When everyone is saying it's going lower...

Back when btc was nearing 20k, all the social media was awash with predictions of even higher btc prices. And then BTC crashed.

Now the reverse is true - everyone on social media and most technical analysts are saying btc will go lower and lower and lower. I'm hearing now predictions of below 4k.

Well guess what? When everyone is saying it will go up, that's a reason to be fearful. When everyone is saying it will go down some more, that's a reason to believe it's getting ready for a bull run.

I'm not saying we have reached the bottom yet, but this extended sideways movement near the bottom is leading me to believe we are in the Wyckoff accumulation phase. The bounce off 6k was aggressive, but also temporary. I believe the bear market will be reset by an extended sideways movement rather than a sharp decline and ascent.

Refer:
d.stockcharts.com/school/data/media/chart_school/market_analysis/wyckoff3/wyckoffaccumulation.png

I think we're in phase B. Just an opinion.