Based on Elliot/Fibonacci waves my projection tell us Bitcoin will reach the support zone around 7800, where the B wave ends, retesting the logarithm downtrend line.
Daily stochastic RSI also shows overbought, giving room for a correction before a bullish scenario.
Afterwards, a C wave will start the new Bitcoin bullrun.
******************* This is just for educational purpose. Does not use it as an advice to buy or sell************************