BTC Hourly Oversold Bounce

Note that when in a big time bull trend, the first oversold conditions get bought more aggressively.
The first 5 min oversold bounce, the first hourly oversold bounce, etc.
This bounce occurred just above $7,000 psychological support and was market by a volume climax and a very strong $400 bounce.
Now that we have seen the bounce play out we need to be more cautious bullish as the odds of a lower high increase.
Lose the hourly higher lows and we will likely see the bears take back over for the near term future.
Still very healthy daily consolidation.