Bitcoin Price Takes a Rollercoaster Ride Before Settling Near $77,300

Bitcoin's price has been on a wild ride, taking a $3,215 intraday adventure to end up near $77,300 with a tiny 0.2% gain over the past 24 hours.

The short-term picture is currently cool, but the longer-term structure of Bitcoin remains intact.

According to charts from Bitstamp, Bitcoin's price has been consolidating between support around $76,040-$76,400 and a stubborn patch of resistance beginning near $77,970.

The bulls still have a decent hand to play here, with Bitcoin absorbing a pretty hefty pullback without wrecking the bigger trend. If buyers can muscle through $78,800 and keep going, $82,280-$82,830 comes back into view quickly.