A welcome bounce for BTC is giving some relief for bulls. A Head and shoulders is developing on 4H which could provide some support. There is clear bullish divergence on 4H and 1D charts. MACD is also pointing up. We passed middle of Bollinger Bands on 4H (still far on 1D), which are squeezing... so a jump can be expected soon, and the bullish divergence may suggest it would be up. A first target for bulls is to break the blue line downwards, then get out of the purple channel. If this is not a bull trap!! Must be very careful still.
Commento:
The blue line on RSI was drawn on 1D chart so apologies if it looks like nonsense here.