BTC rally incoming? Look out for August 1st

This downward trendline (purple) if broken seems like it could trigger a rally for BTC. The RSI is crossing on the daily so it could break in the next few days. Trendline crosses a low of around 5500 [from 11/12/2017]
this two trendline cross on August 1st.. If it doesn't break in that time, I can see a downward trend continuing.