As you can see, we had a decisive bounce off the support , which happens to be the neckline off the massive every 'expert' has been calling..
Quick little lesson in Head and shoulder patterns, is the confirming indicator in these patterns, we however have not seen that, was on the smaller side and therefore I do not lean towards that scenario playing out at this time in place.
Of course, if the neckline around 13k is broken on a 4 hour close with confirmation then I will heavily lean into a huge scenario for BTC but so far, this has not happened
So back to the action today, is strong on the bottom indicating buyers have stepped in around the daily 50ema and we are still living above the support . Because of this, I would be leaning towards further consolidation in the range between the upper most resistance line around 16.5k and the bottom most support around 13.5k
Not financial advice.