During the whole period of flat, bulls were targeted by a number of scam spikes.. not mentioning any names but BitMEX may have had a role to play in this.
During a time period with little volume mixed with little volatility, everyone is in the same boat not making money and making impulsive plays
Can see the entirety of this move broken down by the countless touches of $9950 resistance level and the failure to break through. Hence why we saw this dump down to $9188
Originally when price started dumping I thought it'd keep going down to at least 8.6k, mostly due to the fact that we haven't had a decent crash since 'beer' virus.
Obviously not bullish right now, i'm sitting all in tether and waiting for re-entry
8.6k is still in the cards, just need more data and time to tell honestly
Price does seem like it's holding $9188-$9369 accumulation zone and this fake-out dump could just be a retest of that to shakeout weak hands
Honestly though, my thinking about this is that in order to break through 10k now after failing to do so multiple times, could see a heavier dump back down to that 8.6k range I was talking about.
It's going to take a little bit for trend to reverse
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