Daily
Trend timeframe showing downtrend is still intact, however momentum is starting to shift to the upside according to our Stochastic RSI. A daily close above $6,700 and we should see a run towards $7,500 only to be rejected and form a higher low beginning our uptrend or continuing our sell off towards $5,000 if we don’t hold.
4Hour
Shifting over to our pattern timeframe we see price has broken out of its minor downtrend forming a higher low and a higher high, looking for another higher low for a confirmation that we push towards $7,500. Stochastic RSI showing momentum is looking extremely bullish, a 4hour close above $6,700 confirms this traded.
Conclusion
- Buy: After Daily Close Above $6,700
- Sell: NO
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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.