Bitcoin, Next Stop $7,700

תמונת-בזק
Daily
Looking at our highest timeframe we see price has attempted to pierce $8,500, however failed and has since retracted towards the downside since. Expecting price to fill wick and fall towards $7,700 sometime this morning or later this week. Stochastic RSI showing momentum is bearish, with no signs of bulls.

תמונת-בזק
4Hour
Shifting over to our pattern timeframe we see price has struggled to break above $8,500. However we have remained above $8,200. Stochastic RSI showing momentum is bullish, Will not be taking an entry until a 4hour close above $8,700. A 4hour close below $8,200 and expect BTC to fall towards $7,700 / A 4hour close above $8,400, should be followed by an extension towards $8,7000 followed by a minor correction towards the downside ($8,500)

Conclusion
Buy after break and close above $8,400,* only after price has been rejected off $8,700 / Wait for a bounce off $7,700.
Bitcoin (Cryptocurrency)BTCUSDChart PatternscryptocryptocurrenciesCryptocurrencynakedtradingpriceactionTrend Analysis

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