if it falls below $ 8,800 and then breaks $ 8,600 then we will see $ 8,100 and if it also falls below $ 8,100 then we will see $ 7,000 again. as several times the price failed to break the $ 10500, people lose their spirit of optimism and start selling and people who bought at the price of $ 6000 are left with more reasons to sell because they know they will buy again when the price fall too much. this is a cycle that I wonder if there are no whales manipulating
The mystery of understanding the cycle is the difference between making a fortune as a trader and i am yet to reach those level and you cannot find many who reached that level of success in the forum to discuss about it quite often. The price is trading at a price range for months and if people see that it is not going to break the resistance then they will start selling off and we need to expect a major correction anytime soon since it is finding it hard to break the resistance for over a month but when that will happen is a mystery for me.
You should understand there is no regulator in the crypto market. Yeah there are services providing trading like big exchanges who could dump liquidity pools, but thats not exactly it.
All I am trying to tell - we can't be sure there is a cycle and we do not know if the crypto cycle has same reference points