4 Hour Divergence, Bounce Time?

I think we should get a small relief rally soon, bulls are extremely weak but even perma bears talking about taking some profit from their 7k shorts in this area...I believe the path to 5200 is upon us but I do not think we will get there until we reset a few of the short term indicators. 4 hour RSI divergence is not a fail proof signal however it is just that, a signal. A wick to 6k would not surprise me followed by a weak rally to 65xx-67xx...68xx would be ideal as it would give bears a great re entry point but I doubt bitcoin has the juice to get that high. Overall volume has still been declining over the last month or so and to me this is all just building up for a large volume impulse move down to finally break and flip 5800 from support to resistance, note that most of the large volume days we have had over the last month have been red.

Anyways, short term I think we should bounce within the next day or two, however if we simply consolidate for another 1-4 day period between 6k and 6350 I would take it as an incredibly weak signal....Personally I really wanted to short big before this latest move down and I really want to fomo in now...BUT I knew/know this is not the correct thing to do...so I am holding off. I have orders higher that I desperately want filled but I am concerned the bulls might not be able to make it happen...we will see...don't fomo and just wait...if we dump all the way to 5200 before a bounce then so be it...yes it will be tempting to fomo but we should bounce at some point (ded cat) which will give you an opportunity to short more...

Short term- neutral leaning bullish ( I won't long but I think we need a bounce)

medium term- bearish

Long term- bearish

Thanks for reading and stay safe out there

Red Boar

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notice the falling volume as we get tighter and tighter...super indicative of this kind of pattern...large volume breakout is imminent

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I want to give a shout out to @Mr.Renev that dude is LIT

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Well we called that perfectly....here is the roadmap i see

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A bounce here to our 6600 target is looking more and more unlikely...alot of overhead resistance between 6400-6500....1.618 fib seems to be holding strong....I would be suprised but happy if we could get a bart up to 6600 giving bears excellent entries but I am starting to feel like we test 6k before any kind of real bounce...just a gut feeling