I think there are 3 possible scenarios in bitcoin 0.24% right now.
1- Healthy bearish dump (yellow): If this is a healthy dump, we should expect to revisit $5.8k resistance as next move and after that continue to move downward. This scenario will result in months of consolidation below $6k.
2- Unhealthy bearish dump (red). If we continue to move downward...
BTC failed to penetrate $6800 so far and created bearish divergence in low time frames. It may correct itself and revisit $6647 (also 0.382 fib) or $6585 (also 0.5 fib). If it goes lower, then it is not a correction but a dump.
ETH / BTC is testing upper line of downward channel. RSI is overbought. If it cannot break the downward channel, expect a ~50% decline, which is a high probability. If you want to fomo buy eth, wait for the break up the channel line and buy on retest.
Whenever bitcoin reaches the upper zone of the main trendline and creates a bearish divergence, it dumps. Is it going to overextend to $7.7k and then dump? Or $7.4k was the local top? That is the question.