Bitcoin seems to be currently testing a strong support level which has been holding for months. It is a crucial time for bitcoin because if this support level breaks we may see massive drops in the price of bitcoin, the RSI is currently showing an oversold signal meaning it is in favour of bitcoin going up. It may not be that simple as bitcoin has dropped due to hackings of crypto banks and the loss of the hype around bitcoins, lately there has not been much positive news for this crypto meaning that the market has started to lose momentum. I think bitcoins price would go much lower to around $5500.