Declining bull volumes (all volumes, actually) are showing that this is purely just consolidation at this point, and we are unlikely to see any continued bounce.
RSI's haven't yet normalized, so it's very likely we will see more oversold conditions for the crypto as the pullback across the crypto markets ensues.
Supports now are going to be tested at $186, and then $170 below that (with $167 the floor). This bounce was an extremely failed attempt. Unfortunately this happens in the markets and we didn't see the continuation to justify the signs we were thinking.
Bitcoin is just about to dip into oversold RSI levels, but I'm sure we will see prices tank lower as floors are continued to be tested. Nothing is hinting at bull favoritism right now, so it's unlikely we will see any substantial bull volume come in to eat up the order book and take prices up.
