Bitcoin was unable to breakout $6800 technical and psychological near term resistance, fell below recent supports and been trading sideways intraday. Bitcoin must sustain above the February low of $6000 to maintain market confidence. To prove any bullish move, I want to see bitcoin first break and sustain above $6800 for a couple days with decent volume. A break above $7800 is a sign of bullish reversal. I would not initiate any position at this point and wait to see where the market goes.