Major Support for BTCUSD Must Hold!

BTCUSD is nearing major support that must hold for bulls to regain control. The 61.8% retracement from the all-time low to the all-time high is at 7598. A failure there opens the door for a decline to 4257, the 78.6% retracement of the same swing. I suspect an extended consolidation period will occur given the magnitude of the price swings, so multiple tests of support also seems likely.