Bitcoin seems to be bearish in the short term but bulls still have the advantage in the long term with uptrends on the daily, weekly and monthly charts.
It does appear that way. That was a pretty decisive dump below the last couple local lows. Basically, bulls need to retake $12,000 in order to regain control. Otherwise gravity should do its job and start squeezing all the top buyers from the past week.
I'm still looking at mid-September for a resumption of the monthly bull trend. Until then, the $8K-$11K range is still on the table.
I would be surprised actually if anyone were surprised by the most recent dump. It's been the flavour of the month if not 2 months past, profit taking at those highs and low volume pumps to push past 12k artificially.
Definitely my money is on a few more sub 10ks if not 8k or lower like you say, and way past December. That's not juat me being pessimist, though, contrary I think that it'll be better for the long run.