While many are not excited with all the talks surrounding BTCUSD going lower, there is possibly an upside to it all. The upside is the weekly support just below $6000.

On the smaller time frame (Daily) BTCUSD is coming into the second touch of a major support. Meaning with momentum allowing, it will go through to the next support.

Keep in mind that while this is all happening, there is still a massive falling wedge happening (bullish pattern) which many consider to be a sign that BTCUSD is building up bullish momentum to breakout to a new all time high.