Bitcoin (BTC/USD): Evening Analysis, Here Is Your Lesson…
Daily
Looking at our trend timeframe we see price has broke out of it’s consolidation zone but has found resistance at $6,500. Stochastic RSI showing momentum is in favor of bulls, however we are seeing a shift in in momentum. A daily close above $6,500 activates our trade, and we should see a push towards $6,700. A rejection from this level and expect our sell off to continue towards $6,000.
4Hour
Shifting over to our pattern timeframe we see price is now testing our minor uptrend, stochastic rsi showing momentum is in favor of bears. Expecting BTC to sell off towards $6,350, if we do not hold here expect a further drop towards $6,000.
Conclusion
- Buy: After Daily Close Above $6,500
- Sell: Nooo
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.