After losing the hourly and then the 4 hour higher low pattern Bitcoin is now under daily consolidation. We will look for it to form a higher low on the daily chart. Hourly RSI became oversold this morning and we are now trying to bounce. We will be watching the hourly time frame to see if the bulls can form a higher low and higher high there. A change in the hourly trend back to the bulls will be the first sign of a bounce on the 4 hour chart.
Daily Chart Consolidation:
Hourly Chart Bulls Trying to Bounce:
