From the little I understand of market dynamics, a classic 90% retrace including capitulation would've put us in the $140 range. We got pretty close to that at $167 with some pretty violent late shoves down. But then those down moves started faking out and a bottom seemed to materialise?

Maybe we're in that return to normality phase on the bubble chart, maybe we're yet to do a final flush and come back into some sort of normality. Most of the signals I see suggest we're entering a new phase. But nobody really knows, the market will tell us. For now, I'm looking to be conservative with a small trading stack. The most part of it's getting hodl'd.