Panic has set as we have broken the upwards trend but there could be a new pattern forming. This idea shows an AB=CD pattern which means we are now ready to find new buyers and go long. Though it should take as long as it took from A to D to recover.
Short term BTC needs to get over 55.5k and stay above 55k over the next 24 hours to prove that we still want to go higher. If we close below 55k and dont bounce off 53.5k then BTC is heading for lower resistance of 47k and 43k.
This is not financial advise because im a noob! though ive been watching and learning. Also loss alot along the way by making too many mistakes. Hopefully this time some go as planned.