The bulls are currently held back by the downward pressure from the ATH. The problem is that there isn't a very solid floor between this price and the ATH. Large upward movements like this are not desirable as the lack of support will almost certainly be answered by massive consolidation. Currently, so many people are looking to exit their positions that any upward movement in price is going to be incredibly difficult from here out. If L2 actually happens, the potential is that this lack of support will no longer matter. If L2 delays into the end of 2022 then this could be a rough ride for everyone as we return to early 2021 prices. If this happens, I will change my position from long to short as nothing will convince me this wasn't a rug-pull.