The strong red line is strong support according to Fibbonaci, which is relevant looking at how the price has moved in the last days. We are already 55% down from all time high and at aroundprice 5850 it will be 70% retracement from the peak. We can only expect to see how the market moves. For those who want to buy some BTC, my idea is to put 20% of your capital on each fibbonaci level on the way down. In the end I believe BTC will rise to at least 12k USD