Looking at our highest timeframe we see price is continuing to test our major support zone $6,500. Our morning analysis showed BTC wanted to make it’s next leg towards the downside, however price is showing other wise. Momentum continuing to look bearish, with no signs of slowing down?
Shifting over to our pattern timeframe we see price had a strong push towards the upside from $6,400 to $6,700, momentum starting to head towards the upside. A daily close above $6,700 and we should see BTC make a run towards $7,600
Last but not least looking at our trigger timeframe we see price was respecting our downtrend structure, until a higher low was formed yesterday as shown by our 4hour chart. Price jumped from $6,400 to $6,700 our last 4hour candle and price is now looking to form a higher high. Momentum heavily shifted towards the upside, a 4hour close above $6,700 activates our trade to $7,600.
