Bitcoin is struggling to break the Down trend line which has been acting as a strong form of resistance, we are testing that resistance at the moment after breaking out from a falling wedge/triangle pattern.
As we make our way to the divergence point, it will be important to watch for a break out in either direction, i suspect a bounce from resistance to support at around 7500, followed by a further testing of the resistance.
Bollinger bands indicate we may be oversold, which further implies that a bounce off of the resistance line is probable, but we have to keep in mind that Fomo plays a big role when coming up to important price points, will the bulls decide to push the price up? we wont know until it happens.