I think people will jump in FOMO style if it does get to 7.7k and we could see a brief shift upto the 8k levels before finalising our big move down. In my opinion the bottom has not formed , the conviction in bounce from 7.1k is close to nothing. My bigger thinking is for the Consensus which takes place later this year and by then well have some great prices for crpytos to finally kick on. Im out of trades and will watch as a nuetral for now. For me a scenario would only be confirmed by breaks over the 10-11k regions and we are far from that, small push ups dont mean anything, look at the 1d, 1w, or even 4h charts..... it paints a very .
With oversold, divergences forming on smaller time frames my expectation is a short term bounce followed by one final deadly crush.
Feedback, constructive critiscism welcome, if you enjoy the idea then share some love! Many thanks