Bitcoin Relief Rally Leaves Us Wondering What's Next

So after aggressive selling the last couple weeks we finally saw some relief as priced rebounded during this week. It was a well needed bounce, but the question is will it be anything more than just a relief rally now that the oversold conditions are being worked off.

Any Follow Through?

Flirting with the prior support after hitting the 10 day moving average

As you can see price bounce to a familiar level churning around the 7600 area before running out of gas and selling of a bit today.

That price area saw support to 7400 so a close above there still gives us a chance for a continued price push. A close above 7600 would be ideal though.

If price sells off some more and finds itself down toward 7200 then the sellers are still clearly in control and just took a little break.

It's all probabilities and this is my opinion so we shall see what happens.