The $3000-3700 area had the most important volumes in the past fews days but not only, in the past year as well. If you zoom in the chart you will see it was buying happening, and the main transactions happened around $3200 area and $3400/3500 area. Therefore I think important market players entered in this area and will not let the price go further down.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.