How much more pain can we inflict?
All the liquidity has been taken from Short Term Holders, there's no sell pressure. Market's had a full healthy reset, while maintaining a bullish structure on the large time frames.
The comparison I've made with May-Oct 2020 is not so much due to PA similarities, but more because I believe both now and then we have a price consolidation before another leg up. We also find similarities with the Bitmex Funding / Premium Index as well as market exhaustion and overall sentiment.
I am very bullish with the current market development and I've been this way for a while now - you can check my previous ideas. I anticipated the dip to 33,000$ as well, which I see as a maximum pain event that didn't change the bullish market structure. Of course, until we score new ATHs, we would never know.
Cheers!