Bitcoin is still moving in a downtrend. Locally, the price is sandwiched between two trend lines, which act as support and resistance. It is very likely that the price will break through the lower trend line and continue falling towards the marked targets. The scenario would only be canceled if there is a large volume to buy in the footprint. Lately, a big volume was only at the top on the sell-side.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade.