Update $BTC:  My confidence in this being a bullish setup is waning with every 4HR close.  This high spread, high volume rejection of the range breakout looks concerning and it's grinding through support.

When ranges reject breakouts with high spread and volume and aggressively close back inside the range,  that's usually a telling sign that you are heading for the range low to test demand again.

If that happens we will obtain a lot more information about whether this range is distributionary or accumulatory.  From a very basic glance at this range, having the highest volume and high spread moves be the downward rejections of range highs is a major check in the bear column in terms of distribution.

Additionally, we have 2 massive reversal setups on the weekly.  The @bbands M Top and a C clamp on the ichimoku cloud system -- All of which are pointing toward new lows.
#BTC