We are still bearish on BTC and we will be until we break the series of lower highs on the daily TF or until we reach the first target for the potential low of this bear market 5300-5177. (the second target is between 3000 and 3300). Now we are correcting the fall from 7429 to 6119 and we couldn't even make it to the 0.382. Usually when BTC is trending it has very shallow corrections (between 0.236 and 0.382) and it wouldn't surprise us if it would start falling from here but shorting from here you don't have a good RR ratio because it could go as high as 7000 before starting to fall again and if the 12h candle closes with this huge wick to the downside it will increase the chances of going higher before starting to fall again. So, where do we place our sell orders? We have 2 zones and they are both highlighted on the chart. If the price doesn't reach our zones we will short at the break of the support line.
Hidden bearish divergence on RSI and Stoch RSI is very overbought on the 12h TF.