Over the past month, Bitcoin has been stuck in the mid-$30,000 price range, and it looks like bitcoin has little resistance to breaking the existing price barrier at the $36,000 price level and this means the bitcoin price may be correcting further in the near future, and now it's going to be wrong one obstacle to market recovery is due to the massive sell-off as a result of the Chinese government's crackdown on bitcoin mining, So has scared many whales and prefers to sell their bitcoins now, with ongoing pressure it looks like we're going to have a very long time to saw the price of bitcoin again experiencing a bullish or price strengthening.
The Chinese FUD has been over for some time now and the effect of that FUD was only a small part of the reason why the price dropped.
For the past month there has been an increased amount of market manipulation and a lot of dumps
trying to dump the price lower than $30k and those trying it have been losing a lot of money because they are selling at a loss and a large number of them are shorting bitcoin that is not even going down.
IMO the only reason why price is not yet rising is because the shorters haven't yet reached their maximum loss to give up trying to dump.
This is why we have no reason to believe price can go any lower than this.
See what I posted here 2 weeks ago:
https://bitcointalksearch.org/topic/m.57342028Interestingly enough we are currently in another short peak while price is still remaining above $33k.