I still believe the downtrend since late June is just a correction to the bull trend. I'd be surprised if we weren't back above $10K by October.
I add more viability to the scenario where we do not cross the $10,000 level again this year if we don't quickly get a bounce back up.
Down to $7K was always potentially on the menu. I'm looking for a capitulation bottom that quickly reverses this week's losses. That's usually how historic bottoms are made on the BTC charts. Panic selling into low liquidity followed by panic buying into low liquidity.
Based on xxxx123abcxxxx's chart, we've probably still got one more brutal leg down coming.
Last year I ignored all these signs, but I'm not doing that again.
Recency bias is a killer. That's all I will say about that.