Still bearish on Bitcoin for the broad picture.
4H pin bar formed after a wild rally last night from 6800 to 7500. When there're too many shorts, a bounce justifies forcing the bearish side to liquidate their massive short positions. The overall trend is still down.
For the technical part, daily RIS is turning up but on 4H chart, RSI has reached over 60. I believe the daily RSI will still wander below 50 for a long time in that no major break out volume take place.
4H pin bar formed after a wild rally last night from 6800 to 7500. When there're too many shorts, a bounce justifies forcing the bearish side to liquidate their massive short positions. The overall trend is still down.
For the technical part, daily RIS is turning up but on 4H chart, RSI has reached over 60. I believe the daily RSI will still wander below 50 for a long time in that no major break out volume take place.
