There aren't a lot of support levels for BTC's current rate of descent. All heavy volume is selling, with the next support lines coming at $6,000. Anything below that suggest another drop to $5,700. It also appears to be rolling over on a double top.
I don't think there's a very strong case for a BTC in the near-term. I'm bearish and staying away until I see a reversal pattern.
There's a chance though that these lows will offer a entry-point on a reversal. Let's continue to chart and look for continuation or reversal patterns post-decline.