I have a feeling this is how it's going to be played out: miners move their minings to LTC and ETH (short-term for ETH) to reduce sell pressure and make sure that their profits can be sustainable, and then when BTC stabilizes at a higher price then they come back into play.
The more i look at the chart though, to more bearish i feel to be honest. but got to remember we are in a massive bull here which has dropped 40% from its high. so a bit of consoidation is to be expected. i remain of the view that dips are for buying but only cautiously as its entirely possible that we go to 7000s & the 61.8% retracement.. must proceed with caution on the big plays.. ill be doing it into strength.