Bounce Off $7,700, Long
Daily
Looking at our trend timeframe we see price has formed a lower high just below $9,000. Stochastic RSI showing momentum has remained bearish, expecting price to fall towards $7,700. A break below this level and it will be scary for all of us.
4Hour
Shifting over to our pattern timeframe we support has been found $8,150 a 4hour close above $8,400 ad expecting a push towards $8,700. Will not be adding to BTC position until daily confirmation of support. Expecting resistance @ $8,700 followed by a small retracement.
Conclusion: Wait for a daily confirmation of support around $7,700.
We spend our days following the patterns, technicals and essentials of the
present most sultry data about Bitcoin, Ethereum, and different Altcoins,
and burrow through all the messiness to discover just the best data for our perusers!
In the event that you need the best cryptocurrency to buy / news conveyed
straight to your inbox.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.