SUMMARY
Over the previous 24hrs we have seen the crypto market able to hold steady after the price of Bitcoin closed above the $7,600 level and has since found strong support with consecutive rejection candles for price to drop lower.
I believe we could see price consolidate around this area for a little longer before either making a move to the upside to retest the $7,780 level where price was rejected earlier in the week. With price being rejected earlier in the week at the $7,780 level, if we do see a move to the upside to retest this level there is a great chance price will carry the momentum to close above as it has failed to before.
The daily chart highlights the rejected earlier in the week of the $7,780 level, also showing us that the market is trading in a channel between the $7,375 - $7,780 region, which could mean tension is building in the market and we could see a strong breakout if price is able to consolidate for awhile longer.
Where do you see price going next? Leave your thoughts in the comments!