Looking at our highest timeframe we see price has respecting a bearish parallel channel, after breaking out of 215—240 satoshis consolidation zone. Price has retuned to it’s breakout support zone. Daily candles showing higher lows being formed. Stochastic RSI showing momentum is slowly heading towards the upside.
Shifting over to our pattern timeframe we see price is currently at a critical point, Short-term uptrend being respected, momentum showing us we want to head towards the downside. A 4hour close above 245 satoshis activates our trade, otherwise expecting a drop towards 220 satoshis before heading towards the upside.
Finally looking at our trigger timeframe we see price is stuck in a design triangle pattern. An hourly close above 245 activates trade, momentum also being shown we are heading towards the downside. Hourly support at 230 satoshis.
Conclusion
Buy: After break and close above 245 satoshis on the 4hour.
