Technically Bitcoin is still in a downtrend as we have just seen a lower high of $9400 being printed on the chart. Bitcoin has recently been retracing against the main down trend. We appear to have seen the end of retracement. We now have a confluence of resistance of upper trend line of main down trend and upper trend line main of H4 retracement channel. We also had a daily pin rejection around the $9400 mark, so I expect to see sellers to coming in from now or more accurately profit taking by the big boys in a new downtrend phase to follow.
Only a convincing close above $9500 and successful retest and rejection to the upside will invalidate this short idea