it could be a bear trap - unless it move past 8022
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To be going down , BTC has to exit past 8022 . if not its a Bear trap and a fake drop
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two minute Graph version - if BTC hits 8110 this will makes double bottom . So BTC can bounce up here.
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The two minute Graph above shows BTC has bounced off the double bottom at 8110 8175 is required to confirm the bounce upwards.
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this is a bear trap shake out, which can drop to 7900/7800 or worse case 7400. One this bear trap completes BTC should shoot back up and complete the movements to the 8800 area. The real Bull-trap happens comes after BTC hits close to around 9k and will drop BTC close to the 4k area.
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BTC can attempt reversal here at 7900
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There perfect bounce spot will be around 7460 and the reversal at 7900 should be temporary .