Bitcoin has recently been retracing against the main down trend. We appear to have seen the end of retracement.
We now have a confluence of resistance of upper of main down trend and upper main of H4 retracement channel. We also had a daily pin rejection around the $9400 mark, so I expect to see sellers to coming in from now or more accurately profit taking by the big boys in a new downtrend phase to follow.
Only a convincing close above $9500 and successful retest and rejection to the upside will invalidate this short idea