Bulls riding the uptrend from the 5000$ mark have mainly booked profits and abandoned the run as the volume profile indicates. Price is ranging trying to find new demand but the price actin shows that there is not enough demand in this range for a breakaway up yet. RSI is trending downwards indicating withdrawal of buyers. potential Elliot Wave correction in play...
A weak daily chart showing the bears have an upper hand until a whale or bot pumps against all ordinary expectations.
Will keep an eye on $9500 BTC resistance break otherwise if the MACD daily crosses the bulls are toast yet again.
Alternative to yesterdays bearish scenario, watching for the bounce off 200ma 4h which we got, so now watching for invalidation of bullish run. If we drop below 7450 i will revert to yesterdays bearish chart to watch for validation/invalidations at each wave point