Whats going on with BTC

We all knew the market was long overdue for a correction and what you are seeing right now is pretty normal. In fact, it is a healthy retracement to ignite the bull run for the next leg up. My only concern though is that the trendline of the BTC as well as the horizontal support (at 57k) is broken which is not a good sign and might indicate that the Bullrun might be over.

if you are bullish on BTC, You should not trade this at the moment and just wait and watch for the next few hours and hope that the price moves back up to at least 57k. If not, things could get ugly...

There is a bad scenario here as well but I would rather not say it at this point. You can just see the charts and some support levels that I have drawn. But let's hope the price does not fall down to these points.

Let me know what you think of this.
Best regards,
J.