Here are two possible scenarios:
a bullish one, and
a bearish one. Take your pick!
I'm leaning towards the bear case but bulls have a few days to save the weekly chart. Breaking and holding above the $8,350 area might do it.
Now, Bitcoin will not fall to 5 thousand again. The current fluctuations are a norm - we do not see that BTC is falling into the deep pit. In a couple of days, it will start growing again, even with a better speed than before.
Maybe not quite $5,000 but I think the low-mid $5000
s are very possible, perhaps even likely. People think it's impossible right now because of recency bias but
based on history, a correction like that would very typical.