We had projected that the Bitcoin rally is tiring out and that is what happened. Bitcoin pulled back to the critical support of $7,413.46. Currently, the bulls are attempting to hold the level but the rebound lacks strength, which is a negative sign. If Bears continue their downward rally then it can go towards $6700-$6900
if the bulls defend $7,413.46. In such a case, a consolidation between $7,413.46 and $9,053.12 is possible. The cryptocurrency will pick up momentum above $9,053.12.