BTCUSD - Have the bulls lost Already ?

Looking at the chart, bitcoin price is clearly forming a crucial breakout pattern with resistance near $8,200. A successful close above the $8,200 and $8,300 resistances is likely to start a strong upward move. If the bulls continue to struggle near $8,200 or $8,300, there might be a fresh decline. On the downside, the $7,200 support area holds the key. A successful close below $7,500 is likely to push the bulls on the back