I think,btc 0.05% broke the side-wards resistance level on 6th -3.03% June at 7590, and since then has has a gentle correction to test the side-wards resistance as support. Although price has some upside momentum after the bounce on the side-wards support, it's important to remember that we're still at the 20 moving average resistance. These averages suggest the trend is still down, so we need to be mindful of this before immediately assuming to take a long position.

Price will likely fall to between 7030 and 6100 (The boundaries of all localized structure) before the down move. BUT, there could be some very temporary upside. The upside can only become more permanent if price breaks the 20 moving average and retests it as support. This is the only condition that negates a lower retest condition.