I have pointed out several times now that $9000 is the main level to focus on in current times. As long as that level holds its position, the market will keep bumping up to above $10,000 levels. In case we happen to break through $9000 this week, which is not something I see happen, but still, if it does, I am fairly certain that we will see a decline all the way till lower $8000's, and perhaps slightly below that. It would clearly indicate the lack of short term demand, probably due to there not being any events or happenings to focus on. $8999 would mean for me that it's time to liquidate some of my short term positions, and to re-enter lower. Time will tell what's going to happen.
$9000 didn't hold, so it seems that your thought about the lack of short term demand has more truth of becoming reality at this point. I personally won't be selling anything at all, but will buy more coins instead.
I wired fiat to my exchange just now, but it will likely post on Monday or Tuesday with the weekend in between. I should have done it before, but it is what it is. Maybe it will turn out to work for me instead of against me.
It once again shows that this market makes people believe we're about to reach a new short term high, and then suddenly it keeps plummeting making people speculate about sub $8000 levels.