It looks really bullish to me. We've already bottomed out and reversed in June. An unlikely breakdown to 4800 would be a flashcrash caused by a whale that would instantly reverse; the crypto space is evolving and strengthening and all the panic selling is over. I think we will start seeing significant and irreversible upward momentum in early November once the SEC green-lights Bakkt (and they will).
(This is just my opinion. I'm not a financial advisor.)