Panic selling already starting to show. I wouldn't be surprised if it slowed down around 40k before consolidating further. The momentum is still bearish with the short term floor formed at 45k being breached. If it continues there could be a potential revisit back 30k. Knowing BTC volatility this is a high probability of happening.
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Depending on the strength of the bounce at 40k (if there is one, there almost always is), it might be worth going long again but for now, I am biased to the downside
