It is not specifically $12,000 but for me to be interested in being long again I have to either (a) be reasonably certain (if certainty existed in trading) that we are in a new bull cycle (hence a break the last meaningful resistance before the all time high that I find relevant at c $11,750) or the price would have to be so low that a move back to the all time high would be extremely asymmetric. To me that means IF I try to catch the falling knife I will want at least a potential 5x return without needing prices to go to new all time highs. So that point is reached around $4,000 or if I FOMO maybe I won‘t wait much longer than $5,000.