Looking at the 4 hour RSI you can see the 9 day orange RSI resistance line.
You can also see that its about to rollover to the dark side within a corrective running flat formation
This means we are likely heading down for another ABC to the previous all time low.
A bounce at the 7300 double bottom is to be expected but expect the selling to soon continue when the market realizes what might be at play.
You could argue that this is bad for BTC. However life can be simple and what we probably need right now is BTC being less expensive so the media can hype it again possibly calling it cheap and the bubble is over thereby launching the next hype cycle and influx of new money