The 6800 level:
- is a previous
- is 68% fib retracement of Jun 29 - Jul 27 move
- Intersects with short term upwards
Expect bulls to push the price to retest the upper channel to 7800 then watch to see what happens next.
If 7800/8000 holds we will have a new lower higher and price will head lower forming a potential .
If price breaks above 8000 then it will be another sign that we are on our way to a recovery and higher prices for BTC , however that's for the price action to decide.
Always trade what you see, not what you think.