Bitcoin higher on the day after test of a lower floor at $7450 stalled the fall

Price of bitcoin remains below $8000

In a post yesterday, I wrote on the decline that:

The move (lower) today brings the digital currency back into a $7450 to $8400 range.  From May 13 to May 27, the price traded 12 of 14 days in that range (there were two days when the price traded below the $7450 low). 

I further added that: 

On the downside, should the price be able to stay below the $8000 level, I would expect buyers near that $7450 low ($7500 sounds like a nice round level to buy against). 
Price of bitcoin remains below $8000
The price did stay below the $8000 and moved toward at test of the $7450 level today. The low reached $7427 before rebounding (close enough for bitcoin). The corrective high has reached $7889 and we currently trade at $7725 between the $7450 to $8000 lower range.  

Could this be a bottom? Stay above the $7450 level and as time goes by, the buyers should come back in. Move above $8000 and then $8400 area after that, and the buyers will be more empowered to take the digital currency higher.  
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