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BTC/USD: Bounced at 7838.00 support

BTC/USD managed to rebound at 7838.00 support after a small dip below 8072.70 in today’s session and is now trading at 7996.24 heading towards 8072.70.

The current data presents a bullish channel in the four hours time frame which indicates a potential continuous of an uptrend to retest the previous highs of 8471.00 if it maintains activities above 7838.00.

Failure to hold above the current support at 7838.00 could push prices down to its 500 EMA and 7440.72 support.





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