We still haven't had the capitulation. That is all.
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The average decline for BTC from Dec. is about 1kUSD/week. It has accelerated and the question will so become...when will we have a day of 30-50% decline for the full capitulation to kick in. It will happen fast along with the bounce. At this rate, it would be 4k near term... 3k if this drags on.
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The chat box is full of giddy bulls..... really? Take a step back. It's a swing trade at best.
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The dive will resume after this long weekend is done. :)