We can see it with more detail on the 4 hour chart that the bulls need to form a higher low this morning.
Daily is forming today but a long way to go before the candle closes.
line is trending down towards the support line in the tightening pattern.
The overall trend favors the bears for continuation as it is much easier to continue the trend than it is to go against it and change momentum.
Anticipating a break of this tightening range within the next 24 hours.
$5,500 support if we drop to lower lows.