We don't "need" anything except to breakout of this range. Fundamentals have been increasingly bullish all year while price has dropped. Trying to argue a bottom, or a drop to new lows in this market, at this time, is the flip of a coin. Until we get a break above or below this range, I can make a good argument either way.
What people should be looking at is positioning themselves for a move in either direction. What's getting old is people who continue to make declarations on a market that's completely unpredictable at the moment. Sure, you've got a 50/50 shot at being right...and it's easy to blame an unpredictable market when wrong. But if you have any kind of audience, you should be prepping them for a bullish or bearish break IMHO.

I'm not talking to day traders. We're a small minority. Most people aren't making a living day trading. For the average investor, I'd recommend using a portion (maybe 20-30%) of their funds for accumulation. The rest I'd have on the sidelines in fiat until a new trend is established. Once a clear trend is established, then we can get back to making responsible short term predictions. Until then, making any short term prediction, while claiming any degree of certainty is simply asinine without a major disclaimer.

Bulls say $6,000 has held for 10 months and will hold forever. They say we don't need any kind of new catalyst for a sustainable bull run to begin. It will happen because fundamentals keep improving, we've lost 70% and tested $6K so many times.

Bears say we have no more suckers willing to push price up. Without market moving news (like ETF approval or mass adoption by some major company like Amazon), we're dropping to new lows. Only then will buyers be willing to start buying again. They point out the rise from $6,000 to $20,000 happened in 3 months. This was obviously not a slow, healthy rise, but based mostly on FOMO. They would argue the quick drop back to $6,000 was inevitable and more representative of the fair market value of Bitcoin. They would say it's from that price point we should expect a correction...especially given that bitcoin was around $1,200 at the start of 2017.

Obviously both the bullish and bearish arguments are more complicated...but that's the just of it. I can see the logic and flaws in both arguments. The truth is, this is NOT a traditional market. We don't have decades of history to compare it to....and we don't need to in order to profit. All we need is to establish a new trend. Once we do, profiting will be the easy part. Until we do, let's all take a step back and realize we're dealing with real peoples money.