The breaking of perceived lines of support may accelerate selling.
Plus it puts the price midways between the two major influences - the downward corrective trend-line and the upward multi-year trend-line. This also looks like a major bottom and a good buying opportunity.
I will try to reply to comments... but that function seems disabled for me at the moment.
Base on the multi-year trend-line, and the Fibonacci retracement. Notice that the time ratios match up also.
Think we will see two consecutive red candles on the monthly here
At year's end, after stuck in a range of 6 to 9K, after people finally give up on the calls to 50K, Bitcoin could just get going again.