$7,700 will be the ceiling for a rally as bullish momentum is limited and the overall downtrend remains intact, making it profitable for daily traders.
From what I've seen in other graphs, $7700 is harder to reach than $6600 (3700 BTC vs 2700 BTC). But this means nothing. I think that Bitcoin price rise is now a matter of "when", not "if". And when it'll happen, many sell positions may get moved upwards, making the current numbers deceiving. (The same goes for $6600: at that level many new buyers can come in). For now I'd not follow the numbers too strictly.
Volume is absolute garbage though.
There are graphs here and there showing that the volumes in BTC are not actually smaller than in mid-December. Of course, if you count in Dollars, the numbers become almost 3x smaller.