Today saw a pretty significant dip across almost all of the market. While the price of Bitcoin seems to have held above $7,500 for now, many online are noting that a drop below could take us to $7,000. Others are expecting a bounce to come, but it isunclear how soon.

Trader Nick Cote pointed out that if we break key support at this level then he feels that a major drop to under $7,000 is plausible:
In a similar vein, Cote discussed how Ethereum would likely bounce back up, unless $235 becomes resistance:
Also, the trader who goes by "TEDDY" noted that given the current setup, it doesn't look great but trader's should have a plan for either move:
Analyst "Satoshi Flipper" pointed out that support/resistance levels become weaker the more they are tested:
Lastly, "Crypto Michaël" noted that too many people are focusing on going long as Bitcoin drops to $6,000, but he doesn't believe this will happen:
Though opinions are mixed, most seem to be cautious given the current market conditions.