Nice summary. I agree with your assessment that we need to watch for a few days or weeks and see if the bottom is in.
If the bottom is not in, then I agree that BTC price could go down to $3.5K or even lower.
BTC will eventually see a bottom. But we may or may not be there at current time
looks like that was bottom we broke back up to 7500
Too early to say we are at a bottom.
https://steemit.com/bitcoin/@davebrewer/cryptos-hit-bottom-today-time-to-buy-hugely-and-hodl-as-we-go-to-the-moon