Looking at our highest timeframe we see price has been in an aggressive downtrend since forming our all-time high back in March of 2017. Stochastic RSI showing momentum continuing towards the downside, price making it’s way towards our last major support if we do not hold at this level expect a drop towards 2750000 satoshis.
Shifting over to our pattern timeframe we see price respecting a minor downtrend inside of our major downtrend. Lower high formed recently at our 4350000 satoshis, expecting a lower low to form near our 3500000 zone. A daily close above 4350000 activates our trade, however if we close below 4000000 expect a drop towards 3500000.
Finally looking over at our trigger timeframe we see price has broke out of its small downtrend and is currently testing for support. A close below our blue line and expect a drop towards 3500000, however a 4hour close above 4100000 indicates support has been found.
Conclusion
Wait For A Daily Close Above 4100000
