Daily
Looking at our trend timeframe we see price continuing to respect our downtrend, stochastic rsi showing bullish momentum is slowing down and we should expect our sell off to continue. A daily close above $6,600 activates our trade and expect a push towards $6,800, however if rejected at $6,600 it gets scary (depending on your perspective). A rejection from $6,600 and expect BTC to drop towards $5,500.
4Hour
Shifting over to our pattern timeframe we see price has double topped at $6,550, momentum in favor of bears. Look left structure leaves clues, last time BTC was at this price it had trouble breaking $6,600 (expect the same behavior). BTC should drop towards $6,200 followed by a bounce, and leaves us with a lower high. Major support levels at $6,000 $5,500 and $5,000.
Conclusion
- Buy: After Daily Close Above $6,600
- Sell: Noo
Comment Down below what coin you want me to do next! ;)
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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.