We got a flush under $9,000 last night that led to just barely touching hourly oversold RSI and 4 hour RSI hit low 30s as well.
We are currently seeing a solid bounce but it is not likely to change this 4 hour trend.
We will need consolidation to a higher low, then a bull move for continuation to a higher high to make us very confident our daily higher low of support as been found. The previous daily support is still intact.
We will get a 4 hour Bull MACD cross when this occurs.
I personally played the bounce with ETH and get this... BCH! First time in 5 months.
I have taken some profit this morning but will let some positions ride for the potential to see this trend change with more follow through on longer term time frames.
Increasing bear volume on the hourly would be red flags than another leg down is coming.