The BTC price, as expected, has transitioned into a steady downtrend on the 6-hour timeframe. Key targets: $116,692, $115,175, $113,657.

The situation increasingly favors a continuation of the correction, and the current bounce and repeated attempts to break the trendline with ATH and return to the "Dragon" pattern further suggest looking for short positions on the bounce, if it occurs at all.

For now, we expect a bounce because there is also a mark for a potential low on the same 6-hour timeframe. The question is what level the price will be at in the next 2.5 hours and to what level the bounce will form - it is hard to say for sure. Regarding the bounce - a move to the potential breakdown level of 120,485$ is not mandatory, but a quite realistic scenario. In the previous downtrend on this timeframe, the price moved to the potential breakdown level and, after consolidation, headed down to the targets.

All we are waiting for now to start building short positions is a return of the price to a steady downtrend on the 15-minute timeframe. After that, we will set levels above for adding short positions in case the price actually goes up.

By the way, #ETH has not transitioned into a downtrend on the 6-hour timeframe, but it also has a mark for a potential low. The asset continues to look stronger.