Looks like BTC is forming a bear pennant. I was anticipating it to bounce off the up trend line but there seems to be a lot of indecisiveness in the market. I wasn't able to get my last position filled due to failure to reach support line. It seems there's some support around the 7.5 area. If that breaks, mid to lower 6k is in play.
There's still a possibility that we could see a fake out here and a rise back up to the upper 8k range but I dont anticipate this to last long and will likely set up a faster decline to lower supports.