I think a lot of bears who waited for low $3,000 are quite sad now and will grab an opportunity to buy at ~$5,500 level happily, so Bitcoin has a ton of support now, which makes prices below $5,000 extremely unlikely. Everyone is waiting for bull run, there's no doom in the air anymore like it was since Bitcoin started dropping after ATH, so I just don't see any reasons to think that we haven't passed the bottom yet.
The bolded.....that's the kind of sentiment to be weary of. Everyone was expecting lower prices in the low $3,000s. Everyone is expecting higher prices now. I have seen too many times what happens after very fast rises like this. The speed and severity of the subsequent crash usually surprises everyone. Remember the August 2015 crash? Most people didn't see that coming and they won't see it coming this time either.
The Bitcoin I know, once it picks a direction, trends
very hard. The next downside correction may only be a correction, but it might be quite severe. I definitely wouldn't rule out sub-$5,000 yet.