7.6 is near log support so many consolidate here for a while and I think 7.3 is the next obvious support should that break.

That weak bounce tells me that there isn't a whole lot of investors sitting on the sidelines looking at these dips as a buying opportunity. There simply isn't any new fiat entering and those who participated in the 2017 bullrun and got out a few months ago are seemingly waiting till we go below 6K. Just from my conversations I've had with various people who aren't within the crypto space (yes I realize its anecdotal and hence not solid quantitative evidence), for most people this big dip we've had since January isn't seen as an opportunity to buy into an incoming moon, but confirmation that it was a "scam" all along.