Upward corrective wave is being poised to test the middle (8310), where the dynamic resides, that is capable to trigger full downward reversal of the trend via the Head-and-shoulders pattern.
Thus market reaction on this area will be very representative in the sense of bitcoin readiness for further growth in direction 8897 (upper , watch the red arrow).
Locally the market is consolidated within the upper (7932-8235). indicator is not very active, therefore we’ll probably see a continuation of flat within the mentioned borders.
We also have to note the strong intraday support at lower (7992), that is adjacent to the psychological level 7800. readings indicate that most likely a phase of potential accumulation within (7992-8172) will be continued.
Flat in the 7992-8172 range.
Trading in the 7992-8172 channel.