Daily
Looking at our trend timeframe we see price formed a lower high at $6,500 and is now looking for it’s lower low. Stochastic RSI showing momentum remains in favor of bears, with no signs of reversal. Expecting a bounce off $5,500 pushing up towards $6,000, only to be rejected and continuing towards $5,000.
4Hour
Shifting over to our pattern timeframe we see price has found resistance at $6,200, stochastic rsi showing momentum continuing towards the downside. A 4hour close above $6,200 and we should see an extension towards $6,600, however if rejected at $6,200 expect our sell off to continue towards $5,500.
Conclusion
- Buy: After Daily Close Above $6,200 / Bounce Off $5,000
- Sell: Por Que
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Disclaimer: I am not a financial advisor nor am I giving financial advice. I am sharing my biased opinion based off speculation. You should not take my opinion as financial advice. You should always do your research before making any investment. You should also understand the risks of investing. This is all speculative based investing.