Bitcoin and most major altcoins have bounced off their strong support levels and may challenge the overhead resistance in an attempt to resume the up-move.

Bitcoin and most major altcoins have been rejected by resistance, hinting at a few more days of consolidation.

Bitcoin price has hit resistance at the $24,000 level, resulting in a slight pullback in select altcoins. Is the rally over?

Traders are still buying BTC and major altcoins on each dip, but selling near overhead resistance could be a sign that price action will remain range-bound in the short-term.

BTC’s march up toward $24,000 took a brief pause after media headlines announced that Tesla had sold 75% of its Bitcoin position.

Despite July 20’s pullback, the market structure of BTC and most altcoins is still showing early signs of a trend reversal.