BTC - Still more correction to come, staying out of the water

Top chart is daily with SMMA 20, 50 and 200, plus RSI.
Bottom chart is hourly of the same.

Over the past week or so we rallied nicely, but on the 25th we hit the 0.786 fib from the all time high in December, along with an RSI of 84-85. All combined, this created a price rejection and we've had a bit of a correction.

It looked like we might get a 'power v' bounce after we had a pullback, but many other TA's thought that as the rally had been so strong, this wasn't likely. It hasn't happened.

Instead, we consider a double-bottom, but we've just formed a lower-low - which suggests the price is going to go down.
(On this point, I did manage two small trades with stop-losses, just in case the price bounced and we go more bull. We haven't, so those trades sold out at a tiny loss of about 2%. That said, I only ever trade with 5% of total capital in order to manage risk.)

So, at the time, I'm not trading in these conditions as price is likely to go down.

Looking further at the chart, we can see there's a descending trend line from the recent high. Until we firmly break this line, price will continue to fall.

Where to?

On my charts, pink is the overall trendline - so we could drop to €6000/$7305.

Beyond that, there's the support zone we've recently been in, close to that the fib 1 from ATH and also stronger support. So this gives us a range of €5360-€4700 ($6526-$5722).

Could it go higher, could the bull run continue? Possible, but I really think price will pull back further first. Which is healthy, as long as it doesn't fall through that €5360-€4700 zone...