A real live bottom call! That's a rarity these days among all this pessimistic sentiment.
I've got mixed feelings. We didn't get the classic high volume BTC capitulation I was looking for, but then again we didn't in July 2013 either. I'm still concerned this may be short term relief rally type action before the final shakedown. Bitfinex longs are still stubbornly high.
I understand your "concern." However, I believe they plan on a short squeeze at current price level $8,500 to $8,700 before taking it up to $9,300 to $9,500 price range. People have been in "fear" for quite a while and this is an opportune time for them to accumulate more coins with less competition for those coins while "fear" is still prevalent. THEN once the price action is taken up to the $9,300 to $9,500 price range, we will see many novice traders begin to experience FOMO and buy in at or near the top of the $9,300 to $9,500 move; ONLY to experience "fear" once again when the price action comes back down to around $8,300 to $8,600 price level. Many will sell then at a lower price because of "emotions." Then the price will chill there for a bit before continuing back up once again and they buy back in at a higher price than what they sold.
That's my two cents...