Daily
Looking at our trend timeframe we see price continuing to respect our downtrend behavior, stochastic rsi showing momentum in favor of bulls. $6,000 has been tested numerous times and not showing any signs of breaking is this BTC new bottom? A daily close above $6,500 activates our trade, if rejected at this level expect a retested of $6,200.
4Hour
Shifting over to our pattern timeframe we see 4hour resistance at $6,440, stochastic rsi showing momentum in favor of bulls however we have peaked and should be expecting a correction. Expecting Bitcoin to retrace towards $6,410 leaving a higher low imprint, if we do not hold at this level expect a sell off towards $6,200. A 4hour close above $6,440 and expect another extension towards $6,700.
Conclusion
- Buy: After Daily Close Above $6,500
- 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.