Short squeeze into alt season?

Bulls need to close back into the median range, preferably with a hammer and supporting volume. The current levels appear oversold, with divergence confluent in the golden accumulation pocket of this range.

In my view, the blue trajectory seems more likely, but this may ultimately depend on the FOMC. It could be the catalyst that either strengthens the bears, who have been gaining momentum and calling a top, or revives the bulls.