Good morning and Happy Fourth of July all! Bitcoin has been making some great moves lately. It appears there is actually some buy interest now instead of bears playing games. However, even in a bull run we need healthy retracement to reload the coil springs. I'm not bearish at all by any means, but will be looking for a short. On the 4 hour we have almost completed a rising wedge pattern. We are also approaching a heavy rejection zone right at the top of the wedge. Even though regular RSI is oversold, I think we have one more leg to run with the L-RSI (see green box below,) to maybe 6800ish. The expected retracement of this wedge would put us around 6050-6100, but I typically expect wedges to follow through to about 80%. This would put us at 6300 which I believe is a pretty psychological and charted support zone, so I will close my short around here to be safe.