Maybe he was right since the market is not yet in the bullish stage there is still a tendency that it would back to where it wanted since the price right now maybe some kind of a bull trap.
At these price levels it doesn't feel like there's that much conviction around at present. I could easily see it falling back into the $3000s. Going below the previous low though would have to wade through an awful lot of orders to get there. Things can turn in an instant so it's possible but it's going to take some effort and it won't be for a while.