If nothing else it's a fine demonstration that TA is a crock of shit.
There have been plenty of people calling for sub 3 grand lows which is fair enough. I did not see one single example of a prediction for this particular brutality.
I totally agree with you. I have always said that technical analysis is practically useless for crypto exchange markets. The actions of price manipulators are unpredictable.
It used to be taken as stone cold fact that Bitcoin never went below its previous all time high. Post late 2013 no one mentioned the possibility it would go below $266 yet it did by over $100. This is why I don't think there's any point in making strong assumptions about possible bottoms, especially months in advance which is what these support levels are.
I guess that the Bitcoin miners already collected too many coins and they decided to sell BTC in order to pay for electricity or reimburse other expenses.
It also does matter that the Bitcoin inflation is still high. Every day the miners receive about 1800 new BTC coins. To only stabilize the price, it is needed to buy $4400 * 1800 = about $8 millions each day. In fact, the mining industry is centralized in China by several mining pools. It goes without saying, they can crash crypto exchange markets by simultaneously selling a huge amount of coins.