Seems to me people are either unreasonably bullish or unrealistically bearish. 8-12k is simply a Wyckoff trading range - one I expect we will stay locked in for at least a few weeks. Above 12k I am bullish, below 8k I am bearish.
There was huge volume coming off the 6k bottom, which as we all know was horribly oversold. In another idea I said if it hit 5k go all in with your life savings - too bad we didn't quite get there. If BTC closes a daily below 8k I'd be expecting a retest and possibly a move even lower, but I don't think this will happen unless we stay in a protracted bear trend moving into spring. Seen a lot of talk about breaking the downward trend line recently. I don't put much faith in trend lines unless there are correlating layers of Sup/Res, but the simple fact is these people aren't using log and they should be. I see no trend line break. 50/100 EMA about to cross bearish which could cause further selloff in the near term. 50/200 still bullish but tightening and in my opinion the golden cross is way too slow for crypto anyway.
To summarize. I think it is highly likely we stay range bound between 8-12k for some time and I personally am fine with that. We tested 12kish and moved lower, but haven't really given that 8k a chance yet. I'll be a buyer in the zone around 8000 that I've marked as support and a frequent scalper when opportunities present. Look to the daily bbands as they tighten for more hints on a final direction choice out of this range- but remember at this point in time the mid term trend is down and while you can trade these easy swings until your blue in the face, at the end of the day cash is still king and I'm going back to it until a clean break above 12k or until the ultimate direction out of this wyckoff range becomes clearer.
As an aside, isn't that GAM suite of indicators nice? Sell bearish pivots, RSI divs, and buy confirmed reversals all day long for easy money.