Well, it looks like BTC finally fell down out of that rising wedge of the past couple of weeks (purple). Rising wedges are a warning of a downturn, and this one finally broke.
However, BTC is now in a falling wedge (blue) which is a portent of an upturn soon. What happens in a falling wedge is that the buyers are backing up and absorbing the selling pressure. The sellers gradually run out of force as indicated by smaller and smaller drops in price as we near the wedge's tip.
One support level looks like $7500 (higher yellow line) which we recently hit and bounced off of. But I don't think it will hold because the falling wedge is not old enough. A better support level looks like $6900 (lower yellow line) which we could hit by June 8th.
At any rate, falling wedges are good!