Looks like $7.2k will be the next stop

As the chart above shows, $7.2k is the next likely stop for Bitcoin.

Right now the price has consolidated upward toward the $7.4k range for $BTC.

One of the main factors that I personally attribute to this is the fact that $BTC got a boost from CMC this morning from their exchange API messing up (so they say).

Basically what happened was that that their exchange API falsely reported prices that were vastly inflated from what they were across multiple exchanges.

For example, CMC reported that the price of $BTC was hanging at $8.4k, and that $ETH had hit $500, $BCH was at $800...etc., you get the picture.

So, I believe that this had a sentiment effect on the entire market because people were perceiving the prices to be dramatically higher than what they really were, which resulted in some amount of FOMO buying and selling.

Despite this random (not so random in my opinion) API malfunction (due to their connection w Bitforex), I think that the price has jumped to $7.4k.

I anticipate, based on the RSI and other factors, that the price will eventually continue its path downward for the next 2-3 weeks at least (in terms of overall movement; there will be some leaps here and there I expect).