BITCOIN HAMMER CANDLESTICK | MIGHT TEST MEAN REVERSION LOWER CHANNEL AGAIN

Candle touch the mean reversion lower channel support around 7300 which is also about the support wall from depth and bulls push it back up immediately and closed of the day candle like a hammer candlestick. Somehow the candles moving along the project curves (blue) drawn and hitting the big channel top resistance level. Possible shadow breakout maybe traps outside bouncing on the top channel resistance as it move lower on the green channel testing the support again at 7500 this time round to confirm or break the effect of the head and shoulder pattern.

Short term moving average : still on downtrend
RSI : bulls push up, moving away slightly, might head there again
Depth Chart : Support wall around 7000~7180 and resistance wall gone
Weekly Timeframe :

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