Morning star formation on the 1 day, along with a closing descending triangle. RSI is almost at an all time low once again. Will it bounce? Who knows... Maybe we will double bottom off of the previous low.
Yellow is supports, white is the previous downtrend, green is the current uptrend. Whatever it is that you believe, we are still in an upward channel and it will take allot of major supports to be broken in order to change that fact.
Info in the chart. Bounce is based on the previous breakout. I honestly don't see any reason Bitcoin should drop. You can say it will drop to 6k all you want but there is no real reason for any correction down to that level. The FUD as of recent has been weak and we just experienced a significant drop, not to mention we have very strong support around 7700. Not...
My previous post also pointed out a bull flag possibility. However, this all really depends on allot of factors, primarily how Bitcoin will choose to move. Info in the graph. Not Professional financial advice. Take it with a grain of salt.