Trade Pair: BTC.USD Time Frame: Daily Predicted Direction: Long ( $7,250 Breakout Required ) Predicted Direction: Short ( $6,700 Rejection Required )
BTC.USD updates will be available in the comments section below.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.
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A strong rejection, however for it to be confirmed i would like to see price break below $6,100
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Price has rejected the $6700 level as expected, however we have seen little bearish acceleration, this gives me the indication we could see another push towards $6,700 into late this week early next week.
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I will be watching the intraday timeframes e.g 4hr & 1hr to identify whether or not the pullback is simply a consolidation period prior to additional downside, or a reversal.