The end of the downward trend or its continuation?

On October 17th, we predicted this fall and saw it come true!
Bitcoin made a new push lower; as we said, don't rush for any bottom entries. The market is volatile, and anticipating a bottom is not possible. Currently, Bitcoin is retracing back and is expected to hit $17,200.
With the positive reaction that Bitcoin has shown to the price channel of $15,000, the probability of a short-term return has increased. If it can return above $16,600, it can fluctuate above this range for a while, like the previous range area.
The market is falling apart as Bitcoin broke the major support level. The weekly support is $15,000-$15,500 area and $12,000-$13,000 area. Binance backs off from the FTX deal, leaving the exchange on the verge of collapse. If FTX is not rescued soon, we will see more dumps in the market. It is better to wait for a clear decision on FTX.
It takes two drives to the downside for #liquidating $700M+ in the past 24 Hours. You should use stops and avoid the market if you see any strong indication.
This week's close candle and the location of the price stabilization can play a decisive role in predicting the end range of the Bitcoin price decline.