We are still watching Bitcoin on the 4 hour time frame to see if the bulls lose the 4 hour higher low, higher high pattern and 12 and 26 exponential moving average support as well as the middle bollinger band. Losing these supports would point to more consolidation on the daily chart to potentially form a daily equilibrium pattern.
We now have an inside bar on the 4 hour time frame to watch as well. A break of the inside bar will provide more clues as to whether we will go up and test resistance levels or go back down to test the support of the 4 hour higher lows.
If we see increasing bear volume on the shorter time frames it will be another clue that points to daily consolidation. A daily equilibrium could see the bears push back down to the $9,000 range.
