s'all about natural systems 
true that
Quote
... I think most will be waiting to buy lower or when it's a bit more stable....
yes, but will anyone be selling? that is the key. if the HODLers hold and the fearful watch, then we will consolidate sideways and not slip into a bear market. the steady underlying buying pressure will buoy us along with the trend, and we will reach Sunday's peak in a couple of days. we need to see some renewed selling pressure today to break us out of this consolidation pattern and into a real mid-term correction.
--arepo
pretty much, but I sense a few whales still lurking ready to manipulate the price, possibly chinese, and still a lot of people ready to short one last dip. It might be already starting, china's dipped below 5000.
Sorry, couldn't resist! 
ha!
Say we break through it though. We have 2 post-ATH lows, 590 and 460. Obviously, should we fall below 460 all bets are off. Staying above both of them, on the other hand will give some confidence we've seen the capitulation bottom. Not a signal for a big rally, but slowly upwards moving consolidation probably.
agreed, i'd say if we get to that we'd hit between 650-700