There aren't any factors that prevent Bitcoin from dropping to 3000 dollars or even below it.
During 2017, Bitcoin jumped from 900 dollars to 20 000 dollars like it was nothing. It blew through every resistance level. That fact means that there is not any real strong support as we've noticed during this devastating bear market. So the bottom could be anywhere below 3000 dollars.
Short term fundamentals are looking bad as well. A lot of crypto projects are having funding problems. They need to fire people in order to survive like Steemit. The amount of funding through ICOs have dropped to catastrophic levels. Buying volume has completely vanished. Everyday you're reading about scam coins. People being ripped off. Regulations. Taxes. To summarize, people are losing interest.
I constantly hear talk about institutional money entering the market or are about to enter. I have been hearing this during the entire year. Where are they? No big company is crazy enough to invest directly into cryptocurrency. Not yet though.
I'm also seeing technical analysis based on multi-year old trendlines. These lines won't break they say. Bitcoin will pump! Believe me, trendlines don't last forever. Sometimes they hold, sometimes they break and form a new trend. Be aware of this.
Ask yourself. Is it realistic to think Bitcoin will pump right after we found the bottom? Will we go the moon at a fast pace like in 2017? I don't think so. The market is not the same one as in 2017. Maybe we are going to see a long accumulation period? Who knows.