see all that low indicated by those arrows? and then see the sudden spike of volume? well that is what we call a squeeze. After one these squeezes massive changes of price occur and as im very sure you can see the price has gone down. As im writing this we have had a small bounce that many have called the "true bottom" well balls to that. We have not seen the end of this bear market yet, we will, mark my words we will be bull again in no time but right now, we are bear.
As to where the price will settle? my guess is the next zone i have detailed, as this is historically an area of support. in fact, i was surprised to see this little fakeout.
enough of my incohoerant ramblings.
Remember though folks, this is not financial advice and any trades you take are at your own risk.
I, like all traders will be watching BTC and will take positions accordingly.