$BTC - The price made the expected move to the previous low of 80.900, but stopped just short of 50% of the last leg of the decline.
The daily chart clearly shows a gap with a boundary above the 68% Fibonacci level.
Therefore, if the uptrend continues, the 83k (68%) and 85k (the upper boundary of the gap) levels should be taken into account.
Bitcoin's uptrend lacks momentum.
Majors have not moved above the upper boundary of the range.
Therefore, it's safe to assume this isn't a bullish moment.
A price reversal down at this level (50%) should be considered a strong signal for another leg down.
If we make a rough projection of this range from 59.8 to 79.8, which corresponds to 20k, the expected level for the next decline is 39.8k.
Gloomy?