Chart says it all. We had constant lower highs and lower lows for entire year. The pattern has not be broken and there's a chance that this rally is just for setting another lower high - as long as it doesn't break 8500.
In such scenario we can resume downtrend easily from here after a brief consolidation.
Looking at the monthly chart, BTC is open to all options. That is - even bearish continuation to the downside.
The impulsiveness of this really is not a good thing for a potential recovery. Markets don't transition that easily from bearish mode to uber-parabola mode.
8500 is really critical level, as it could negate this scenario. That's why i think we already topped out.
This way big players, can technically still have an option to continue the bear market and charts would be still technically correct.