I believe a bull market will only kick in 2022, that is, two years after the halving.
FA got busted, and the StF ratio (which was the pillar of the hodler's creed) was manipulated and pushed ahead, which invalidated the 4-year cycle model. So we will see these swings for quite some time yet, going from 5k to 15k and back.
Two years isnt enough I guess for a huge break down. TA will probably useless for now, as the market swing is quite fast and its support has been modified continously. I am not so experience but seeing a pattern like this, is remembering the 2018 cycle.
MA200 was already broken couple hours ago. Coinbase shows 3867 as the lowest value.
Right now at 5k again, 30mins passed and still kicking some huge pushed. Thinking of some whales started to move again.
Or it is the dead cat bounce and a final capitulation is about to start..