Interesting angle of presentation - the viewer is looking down upon the sight. The first thing I notice is the knit cap and then my eyes travel down to look upon the face wearing it. The angle makes me notice the hat first which places that as a main object with the girl wearing it as a supporting role. The focus is soft - giving this image a dreamy feel. Her eyes are closed so that also helps project imagery of dreaming; daydream. The introduction of grain along with the B&W projects a mood and feel of an moment captured decades ago; nostalgic of remembering days past. The B&W also makes the textures of the knit cap more of a strong focus; whereas shape and weave would be less noticable if color was introduced.
I am mezmerized by this shot. I can't decide if the soft/hard, black/white works or doesn't, but it sure has my attention. Great detail on the knit cap.