Typically (not always) there is a big drop at the end of the 4H cycle on the Stochastic RSI. We are now at that point.
The only difference between the last few is the MACD is oversold and rising, so there might not be as big a fall or any at all and we may remain in this sideways pattern. For now better to play it safe and place stops or wait it out in cash.
Going to be interesting to see where this one lands. If it breaks the main channel resistance we are going to 11000s and maybe 8000s. We may see a bounce off the resistance channel and the bull is back in play if it breaks above the wedge channel.
Watch closely to see which way bitcoin moves in the coming few hours. Critical junction whether bitcoin continues along the channel formed on the daily chart or drops and closes below the channel indicating confirmation of the head and shoulders bearish move.