1. No higher highs established yet. Higher lows without higher highs is just the continuation of a...

bearish trend.
2. The sign of a hidden bearish divergence implies a continuation of a bearish trend.

Overview of 4H: Bullish momentum is weakening. Bulls are allowed to take steps by the bears towards the noted 7500 USD region where the real fight will resume. The opportunity to long has been on the trendline break at 6400 USD, initiating long positions in BTC right now is not recommended until the 1D closing price of 7500 is printed. 0.618 Fibonacci level of a previous swing is a classic reversal zone known to Elliott wave traders and is exactly the point where Bitcoin has started to struggle with momentum.

Time Analysis

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