BTC's local highs have been wiped out, and it looks a bit ugly now. To be honest, I think there's a pretty good chance it will go down further. If you're trading alts, you should be careful.

The key is whether the support in the blue demand zone can hold. If the hourly chart can find support there and stop dropping, then we might have a chance to push back up. But if that area also shows no signs of strength and weakens further, I expect it will continue to decline. Now, it all depends on how the daily chart develops.