Mania Phase is done. Blow Off Phase has begun. Bull Trap, Return to "normal" could see $16k before crash to under $2k.
Just for the record, I drew the lines on this very quickly and it's based on a broad theory of economic bubbles so my price targets can be taken with a wide degree of margin. If you overlayed some better technicals you'd get more reliable targets.
Nice chart. I expect that many who were caught holding air after the fall from 20000-ish would be looking to limit their losses, thereby selling off. So the rebound to around 114000 (at this time) may not go much further (not a prediction - as I could be wrong). There is also a bunch of new hopefuls pushing price up. However, this has been an overheated market which is still bearish from a daily perspective. Sellers should predominate. A lot of people buying into the recent rally would also be looking to take profits, cuz they know this is a bear market. They would wanna take profits before price moves south i.e. they got lucky.