The fear index is already at critical levels, but the correction is most likely not yet completed
Bitcoin updated the local minimum at 39k. and we didn't even see much resistance from the demand side. This means that in fact, we did not even see any "bounce" from the support in the 39k area, and just on the first try, the price fell lower.
All this, of course, fits into the scenario that was outlined a month ago, but still, we should expect that we will soon see some kind of upward movement, within the fourth wave, the current downward impulse.
At the moment, the market will become even more complicated, as Bitcoin technically looks worse and worse. Let me remind you that in our scenario, the 30k area will be an interesting place to buy. This implies that we are now in the final impulse of the 3-3-5 corrective cycle or ABC-ABC- the current downward momentum. Therefore, now the best action is to watch the market.