We're either oversold and already broke the bottom, which should mean a fairly swift return back to $6000. Or we haven't reached the bottom yet which will likely mean a push down to $3000 or lower. I believe that the second is more likely true given how little push back there has been with the price, there seems to be little in terms of buying volume to move the price upwards.
i think it's a dead cat bounce. buying volume isn't too impressive, and there's no V bottom to be seen.
the S&P 500 is also threatening a pullback. the last 4h close is a bearish star doji. it looks like the stock market is about to test the theory that we made a double bottom; the same could be true for BTC. while i don't believe there is a direct causal relationship with bitcoin, like masterluc i believe they are correlated because of a larger market cycle.