The red zone area is where most of the traders will place their stop losses for those who go long. Having to reach that level, it might be a very high volume zone where when there is liquidation happens, more sell off would also occur.

There is no telling on where the price BTC might go but a lot of people who trade on super high leverage like 50X or 100X would get rekt!

Go BTC to boom higher, many people must be out either by fear or liquidation. only then BTC will in fact go higher. with a very impulsive bearish move.