BTC Fake Out
Daily
Trend timeframe showing channel has been broken. Price has remained inside our master candle, and is currently testing our minor support. Stochastic RSI showing momentum is bearish. Are people taking profits, moving to alts, or is this just a normal correction?
4hour
Shifting over to our pattern timeframe we see a double bottom has formed @ the $9,000 level. An ideal entry would be a buy at this price or a break and close above $9,300. Stochastic RSI showing momentum is building up.
Hourly
Finally looking over at our trigger timeframe we see price hold at our $9,000 support level. A break and close above $9,030 activates our trade. Stochastic RSI showing momentum is bullish.
Conclusion: Wait for 4hour break and close above $9,300.
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