After long bear and bouncing from $6000ish a few times, I think BTC is getting ready to make it's move. The question is just, which way?
I wouldn't be surprised if (before ending this bear trend) we re-test support or drop lower and create a long wick on higher timeframes. I think that, if prices are able to back to current levels, would make a great case for next bull cycle.
Until then it will act as resistance (for the past few days it seems like its keeping/pushing BTC down).
Next supports are at 6000 and 5800.
If 6k-ish doesn't hold, I think next support is around 5,5k.
If not I see 4,3k as next support.
Beside that notice that it hasn't been in this area exactly since start of previous bull run around 17th of August 2015 when price was 220$ (although as you can see RSI reached these levels before reversal).
Since we broke triangle, here is an updated analysis:
Else, according to bubble model I think we already capitulated, still waiting for despair though... :) https://i2.wp.com/transportgeography.org/wp-content/uploads/stages_bubble.png?resize=720%252C482&%3Bssl=1