Bulls broke back above it just now. We might have to chop above and below it a few times before the market confirms it as support for good.

The prospects for a full on V-bottom look decent. We saw insanely high volume exchanged. Capitulation occurred for sure and shorts piled on massively. We just need bulls to follow through now and trap sellers below $6K.

Based on volume and magnitude, this selloff looks like the January 2015 capitulation. A true old school BTC capitulation. I hope nobody around here managed to sell in the $3,000s.