Bitcoin(BTC/USD): Morning Analysis, That Much Closer…
Daily
Looking at our trend timeframe we see price is now making a push towards $7,200, stochastic rsi remains in favor in bulls with no signs of slowing down. A daily close above $7,100 activates our trade, and we should expect a breakout towards $7,700. However if rejected at this level expect a sell off towards $6,000.
4Hour
Shifting over to our pattern timeframe we see BTC is reaching out to it’s upper wedge line resistance at $7,300. Stochastic RSI showing momentum continuing in favor of bulls on smaller timeframes, a 4hour close above $7,150 activates our trade and we should expect an extension towards the upside. Expecting a retracement at $7,300 down towards $7,15only to be followed by another push towards the upside.
Conclusion
- Buy: After Daily Close Above $7,100
- Sell: Por Que?
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.
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