On the daily chart the last higher low, level of support was at $10,575. The daily RSI is oversold and currently above 85 as price approaches weekly resistance.
On the 4 hour chart the bulls continue to make higher lows and higher highs and maintain the support of the 12 period exponential moving average (EMA) as well. The last higher low, level of support on this chart is at $11,490.63
Zooming in to the one hour chart we see that the last hourly higher low, level of support is at $11720.14. If the bears are able to break this support level the possibility of consolidation on the 4hr chart is more likely, but as long as this level of support holds and the 12 period EMA also remains support, the bulls are comfortable.
