“Is it still going down?” That's easily one of the most common questions I get. Normally I like zooming out to daily or weekly charts, but even the 4-hour is telling us a lot right now. At the moment, this could be shaping up as just a dead cat bounce Unless... Bitcoin can hold key levels and start to shift structure. The 112,000 level is the key level to watch out for. That was a big resistance area at the previous high, and now it looks like it’s flipping into support It’s already held strong on Aug 2nd and 3rd, so this zone is crucial. From here, what we want to see is BTC breaking out above this trendline and starting for form HHs and HLs. That's the structure that signals a real change in momentum. And don’t forget the volume. If price starts moving up but volume doesn’t follow, it’s less convincing. A healthier sign would be buyers stepping in with stronger volume as Bitcoin pushes higher.(Lark Davis)