Looking at the 4 hour chart, Bitcoin is quickly approaching a major trend line in which I believe is a do or die moment not only for Bitcoin, but the entire market as well. Bitcoin currently finds itself in a falling wedge as it rapidly approaches the $7,200 mark, which is a key price point because it is the 78.6% fib retracement from the $11,700 high a couple weeks ago. Bullish divergence can be seen on the MACD and the RSI is currently sitting around the oversold mark at 30. A breach here would send us back down to $6,000 and there would be blood (red) everywhere. I know there are TA wizards who think we're going down to $2-4k levels, but I'm feeling optimistic in this period of FUD. We are set up nicely to bounce of the very mark we need to, the key will be can we get a good bounce and rally enough buyer support to send us back into a bull market. The 200EMA has also been confirmed as resistance, so that would be the next obstacle to tackle, but one thing at a time. For now, just watch for Bitcoin's reaction to the $7,200 mark.