Although the title might state there is good news for BTC, this is going to come after a period of price movement back down to previous support.Lets first start by looking at the fan lines. We can see that BTC is beginning to slow its downtrend, and historically after a third fan line has been broken to the upside buyers begin to gain confidence and we see a trend reversal so this final fan line is a crucial one to look for a breakout with volume. With that in mind, lets look at what is to come. BTC has slight support at the $8k level as this was where the bulk of the recent uptrend volume occurred meaning there might be more buyers looking to get in around this price, however, given the weak price action and declining volume I've been seeing, I highly doubt this will prove to be a strong support level, however anything is possible so you should be aware of this zone. After breaking below 8k bears will enter the market and continue to lower the price until we reach the major support zone indicated by the red rectangle between the strongest historical reversal prices. At this point buyers will almost certainly enter given the massive upside move that occurred in the last 2 months after the previous drop below 7k. To enter a long position I will be incrementally increasing my position as the price goes down from the 6.8k level down to the 6k level. Ideally, we will be seeing a large inflow of buyers pump the price back up and break our third and final fan line, shifting us from a bear to a bull market. If we do not see a large buyback within the red rectangle with high volume, a break below 6k will most likely launch BTC back down to the $4k level where we find our next support level.