Use the mass as a counter indicator. I have been doing that for a good while now and it seems to work fairly well. People need to lose hope and confidence will we see the market do something towards the north.

Too many people are still holding on to their coins waiting for something to happen, either because they bought in recently hoping to book a profit, or because they are deeply under water from last year's frenzy.

I think a proper shakeout will happen once we break through the main support people thought was impossible to break. It may sound harsh, but peculative markets don't have mercy for its participants.