Slowly, the crowd does not know what's going to happen anymore.
In the up and down's, most people have lost a lot of money because they do not want to miss a possible pump or dump.
But in truth, that's just a bear flag for another move down.
So I expect a pullback later at around $7,900.
If it does not come and we drop further, then the market is very likely to fool the participants.
Because everyone expects $7,800 should we go down here. When everyone expects one thing, the opposite always happens.
So, most likely, the market would drop until everyone talks about $5,000 or $4,000 again.
That's also why I say we'll have a trend reversal as soon as we break $10,000.
The market is there to kill all the fish and that happens to 99% of the cases.
This is why you should never ever follow the crowd.