BTC just broke bearish on an equilibrium pattern that has been playing out all day! A current bullish scenario is that this new bottom creates a channel with the previous sets of 4 hr higher highs and lows! This seems rather likely to be the case given that the 1 hr RSI trendline acted as a support level for the potential new trend line. We are unlikely to dip any lower tonight with the RSI levels being so low on short time frames and their being overall bullish sentiment across the market. We will need another touch on both the bottom and top of this channel to confirm it.
