After the recent low of the dump at $6080 this is the new support BTC             needs to hold(psychological $6000), or i do see low $5000’s incoming, as $5700 BTC             support is already beaten up and cannot see it holding again for long. This would be invalidated if the Inverse Head And Shoulders pattern plays out, and not the bear flag .

I forsee Bitcoin             getting drawn to 5k like a magnet. Where i do predict a bounce that can hopefully be the start of the bullmarket, my reasons for the bounce are listed below.

At $5000 there lies 4 major supports.

The horizontal support line at the $5000 region.
The trend line which does back from March 2017 connects at the $5000 region with the next few weeks.
The 0.786 fib retracement level lies just on $5000, in this crypto bear market I have noticed fib 0.786 has been more reliable than 0.618 for bounces, and a lot of big traders will be looking at this fibonacci retracement .
The psychological number that is 5000, expect people to see this number and have buys placed there.

On top of that we have the ETF ruling on the 10th of August.

If we take a few weeks to get to 5k that bring us to end of July/start of August, when the real hype for a positive ETF ruling should bring in hopful buyers. ETF hope coupled with the several 5k supports could spring board us up past these heavy resistance levels of $6800 and $7200.

If the ETF is then approved it will be amazing news for the cryptocurrency market and i see much growth coming, if ETF is rejected again, the gains and volume will dry up and likely we will explore new lows and $3000 support.

My thoughts via video if anyone is interested.

https://youtu.be/o0FI-a1RKcU