ChainCatcher news, according to Cointelegraph, trader CrypNuevo stated, "Before a broader market rebound, there has been a pullback, with a focus on the low near $90,000 in early December. Now, I still believe we might re-test these lows.

It's hard to imagine that we would see a V-shaped rebound from here. I lean more towards the W formation, or possibly completely filling the lower shadow. Ideally, it would be to completely fill the lower shadow, as $90,000 is a strong psychological barrier."