Not much of a technical analysis here, but just want to point out that Bitcoin over the past month has had many days where the markets were down by a high degree (2% down is a large move for the S&P) but bitcoin stayed flat or increased in value. The correlation of Bitcoin to equity markets is very low. This is exactly what institutions are looking for. Be on the lookout for more accumulation to 10k this week. Accumulators don't care what price they buy at when we are in the basement relatively speaking and the price will be over 200k in a few years anyway.
I agree. When we are talking less than 20 million available (some lost forever, some not mined yet) anything below 10K will seem like a steal compared to the future potential. If just 20 million people worldwide were to buy 1 Bitcoin each that's it, they're all gone. The only way to keep them in the market is to keep the price perpetually attractive. For me, 8K isn't attractive enough to sell any of my bitcoins. I remember selling half a bitcoin on ebay for just over $600. I thought I was a genius. I more than tripled my money. NOT so smart looking back. lol