If 8k fails to hold, panic selling may take us as low as 5.5-6k, the next major area of support.
If we bounce off 8k again, we will retest major resistance at 9.2k, which is the top of the current downtrend that we've been in since 17k and is also today's high.
It is likely that the 8k support will break this time. When BTC fell to 9k on the 17th, it recovered to over 11k by the end of the day. This time, BTC is recovering much more slowly and has formed a , as opposed to the that formed back then.
*The that formed last night looked more like a on certain graphs.
Forecast theme: https://www.youtube.com/watch?v=k36sIRRdFSU