BTC has absolutely no volume on this bounce attempt even with a 4 hour inside bull break.
The 4 hour chart is a potential bear flag and if we lose hourly higher lows we will likely confirm it.
Bears are comfortable in the short term with the top of the bounce as a tight stop level.
Still healthy consolidation on the daily and likely to see another declining volume day today.
If the 4 hour bear flag is confirmed we will likely see hourly RSI oversold again and if 15 min RSI is under 25 with hourly RSI as well, that is when I get interested in an oversold bounce.
Bulls will have to get over hourly EMA resistance to prove any bounce strength.
The 4 hour chart is a potential bear flag and if we lose hourly higher lows we will likely confirm it.
Bears are comfortable in the short term with the top of the bounce as a tight stop level.
Still healthy consolidation on the daily and likely to see another declining volume day today.
If the 4 hour bear flag is confirmed we will likely see hourly RSI oversold again and if 15 min RSI is under 25 with hourly RSI as well, that is when I get interested in an oversold bounce.
Bulls will have to get over hourly EMA resistance to prove any bounce strength.
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