We remind you that on the BTC futures chart on CME, there is a gap of 93,940-94,500$. More precisely, the remainder of the gap formed during the lively bounce from Monday night to Tuesday. As long as the price is in a descending local trend, it is heading toward this target.
An ideal scenario for a reversal on the hourly timeframe would be to close the gap with a squeeze in the next half hour. Then, in spot trading, to close the current hourly candle with a Strong signal of a potential low with a bullish shadow from below.
But for this, a significant downward impulse is needed, and the price on CME is currently higher than in the spot market. The downward impulse has slowed down so far.