Bitcoin (BTC/USD): Morning Analysis, Bounce Or More Selling
Daily
Trend timeframe showing price is currently our descending wedge’s dynamic support. Stochastic RSI showing momentum is heading towards the upside. A daily close above $6,800 and we should see a run towards $7,600, however if we fail to close above this level expecting price to drop towards $5,000.
4Hour
Shifting over to our pattern timeframe we see price has broke out of its minor downtrend , now looking for support. Stochastic RSI showing momentum is starting to top off and could be heading towards the downside. A 4hour close below $6,400 and we should see BTC continue to sell off towards our next major support.
Conclusion
- Buy: After Daily Close Above $6,800 / Bounce Off $5,000
- 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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Volume is droping i think we will see 6k level retest and yes maybe 5k.
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