You are correct about that. We encountered very strong bear candle and yet the bulls cannot overcome or reverse this process in an instant. This is a sign of Strong Bear Movement and Weak Bull recovery.
It is advisable to wait for more days because there is a chance the bitcoin will break the 6,000 price level and reach a new lower low. Im expecting bitcoin to reach 4,000 - 5,000 price before it bounces back again.
That should not happen, we still have strong support at $6K and we should see a bull run starting with the current price.
It will discourage people if the price will even go lower, the market has been at dump for 5 months already, we should see some good signs to make this pump.
I also think like you the current price is too low and not attract many investors. This in my opinion probably needs more time. And our expectations are likely to exceed $ 6,299. And when will this sign of return be better this year?