BTC dropped sharply as expected. A weekly low of 7600 USD has been set. The bounce found resistance below the 8200 USD level, pulled back an confirmed its short-term support at 7750 USD.
A move above the 8200 USD could trigger a short term bullish continuation to the 9000 USD and 9200 USD levels.
Regarding Bitcoins bottom behavior, it is fairly commom that a double bottom (or double top) with a bearish (or bullish) fake out triggers a solid move in the opposite direction. That's why I expect the 9200 USD resistance to hold, eventually throwing back BTC to the current support levels and ultimately setting a new low in a flash crash. In this process the long term trend might be tested and taken as visual guide for upcoming strategic decisions (grey line below)