If BTC is to recover from this massive dip and stay in a bull market it CANNOT go lower than 6600. This is the point that BTC broke out of its last structure and into our current structure. If it goes below 6600 we can expect a fast drop to 5400 followed by an even more big drop to 1700 for support.
My personal opinion:
I don't think the whales that are pushing this price so low want BTC to fail, they just want to buy it cheap. So they're pushing the price as low as it can go without breaking the structure. ALSO, this type of pressure on the market will cause quite a spring back to new highs the likes we have yet to see in this market. Over sold is equally as quick to change as over bought.
My personal opinion:
I don't think the whales that are pushing this price so low want BTC to fail, they just want to buy it cheap. So they're pushing the price as low as it can go without breaking the structure. ALSO, this type of pressure on the market will cause quite a spring back to new highs the likes we have yet to see in this market. Over sold is equally as quick to change as over bought.