Bitcoin has been consolidating and will likely continue to at least in the coming week.
BTC/USD 4H Chart
- In the 4H above, we can see that price found support around $13,000, although there was a tail that extended down to about $10,000.
- Then there has been a couple of bullish attempts that failed to clear $16,500 and failed to stay above $16,000.
- These are signs that bears are still in charge at least in the short-term.
- Furthermore, the RSI in the 4H chart held under 60, which reflects maintenance of the bearish momentum.
- If we have another correction swing, we should anticipate a bearish outlook to 10K, but we should anticipate buyers there.