This is what some are waiting for.
Do you think market will let you destroy its structure and let you stack $BTC at this rate ?pic.twitter.com/Arm3K1j4ZH
Monk, this is quite an exaggeration of what people are expecting. Most of the reasonable bears are calling for low 5ks. Also, the market doesn't care about its "structure" (unless it's in price discovery), it's designed for maximum pain and squeezing you on your positions.
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That's a target i've been seeing many times around when we were in the 6ks tbh. This is highly exaggerated but take a look at some EW counters. This is not far from their reality.
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"take a look at some EW counters" Ah, now I see where you took a wrong turn.
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