Bitcoin (BTC/USD): Morning Analysis, Wait For The Break…

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Daily

Looking at our trend timeframe we see price really starting to tighten up its range and we should be seeing a breakout/breakdown soon. Stochastic RSI showing momentum has shifted towards the upside, with no signs of slowing down. A daily close above $6,600 indicates another leg towards the upside, while a close below $6,500 would indicate a drop towards $6,000.

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4Hour

Shifting over to our pattern timeframe we see higher lows being formed, while momentum has peaked. Looking for price to hold above our shown support level, followed by a break towards the upside. Waiting for the 4hour close above $6,650 before taking any trades.

Link To Chart

Conclusion

  • Buy: After 4Hour close above $6,650
  • 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.

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Thanks for sharing your work. Can you please post your analysis on Bytecoin BCN

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