Views on the bear market that has began on February 22nd

The beginning of this bearish market led to analysis based on the Doji Candle and several other indicators that signal the beginning of a decline, with 58K, bitcoin updating its peak.

However, despite the large decline, historically, there was no such ridiculous bearish market that could be pierced through the 0.618 section at once.
After drawing a simple Fibonacci regression line and Fibonacci expansion as shown in the figure, the 52k section is expected to serve as a very strong resistance line.

As you expected, Short starts working.