For almost a week now, the price seems to have shown signs of consolidation above $7'000. Good news for a recovery?
Current support / resistance: $7'200 / $7'800
After yesterday's rallye, the bitcoin failed to cross the current resistance and dropped sharply to test the current support. For the moment, the support has held up and the price has shown sign of recovery. Moreover, the CyBorg predictor has significant confidence in this support with a probability of more than 74% that the price will be above $7'199 tomorrow. In terms of technical indicators, the trend is still downward, but the current consolidation period could be the a base for a recovery in the medium term.
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