Bowel movement or constipation ahead?
It looks like this latest bounce is already losing steam. The CMF still shows heavy selling pressure on the 4 hr chart, while it is just about to break below zero on the 1 hr. Selling pressure is also below zero on the 12 hr. On the other hand, the RSI looks oversold on the 4 hr and 12 hr, so there might be a revival in this bounce yet. I just don't see enough strength to trust it more than a few hundred dollars. It's a no trade zone for me again, bringing on some short term constipation/consolidation and then another excremental push down to 8200 where support is weaker. Bitcoin is not getting off the pot anytime soon.
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