We are having some draw backs again because the market is dependent more on fundamental than on the technical analysis. It will rise again in the coming days
You can still apply technical analysis if that is what you want but with the market as it is, it is going to take a lot of effort to make profits, in normal market conditions more than 80% of the traders lose their money then it is very likely that with the market as it is probably 90% of all the traders are going to lose money, so only trade in this market if you are really good because if you don't then you will lose money.
Till today it is not right that the price of bitcoin is rising because when there is little bit increase today the next day drops again. This is not rising. When the price crosses $8000 then I will say that the price of bitcoin is rising now and the market is green which will attract new investors. Today the price is $6400, tomorrow it will be $6700 and day after tomorrow it will down again to $6200., it is not rising.