Most crypto in for more pain

The current recovery feels weak and trappy. A lot of traders are interpreting this as a potential bottom. In my opinion, it's much too early to call a bottom here. Most likely it's another dead cat bounce and another lower low will be incoming in the short term. The large support area shown is vast and it will most likely remain volatile to the downside for the short term as other major indexes reverse downward as well.

Don't be fooled by multiple green days in a row, the general tendency is still pointing to more red.