The crazier part is that the influencers are still making it like this is just a dip and so they keep telling thier audience there is a signal to pump. The audiences though hare not believe this is a correction that will dip below $60k. But if I am to look at it in the longer time frame, I think it will actually. Maybe even below $50k if my speculation comes true.
Some of them has reasonable opinion though, it might be a bear trap but it can be other thing, market is full of uncertainty, granted that there will be no economic turbulence anymore price probably gonna recover.
we should also learn that past bearish also don't come out of nowhere, there's always narrative that could either causes bullish or bearish, the ETF narrative helps cause bullish, but the collapse of FTX back then where it caused people to fall victims losing majority of their asset which hopefully gonna gets credited to them back again eventually also the cause of bearish. so far there's still no narrative for sudden massive bearish. so hopefully this bearish won't last long.
Bear trap or not, there's no way that you could really be able to predict 100% precision on where price could go but somehow with the help with those technical analysis then you could really be able to make yourself having that kind of approach when it comes to know on what are those probabilities that it could neither be a bear trap or not. There's no way to identity whether it would really be getting in line with those predictions or analysis or would really be that going into the other path or ways on which we know that when it comes to probability of sudden news and sentiments could really be there on which it is really that hard on having this kind of conclusions anytime we do tend to make some entry or exits on which just like always where market is really that unpredictable.
There's no way that we could be able to tell on where it would be going and this is why every decisions to be made will really be just that depending or basing up into your own
analysis and skills that you do have on how to deal up with this volatile space. Outcomes and results will really be that vary on every decisions or actions to be made on.