Looking at our highest timeframe we see price has hit major resistance @ 80000 satoshis. Stochastic RSI showing bullish momentum is still in play, however it is slowing down. Minor weekly spoor shown 56800 satoshis. Waiting for price to further complete it’s retracement before taking a long position.
Shifting over to our pattern timeframe we see price has formed a lower high just below 75700 satoshis. Price has since remained in consolidation between 71000—75700 satoshis. A daily close above our resistance activates our trade, however if price breaks and closes below our trendline expect a drop towards 55000 satoshis.
Finally shifting over to our trigger timeframe we see price continuing its path towards the downside. Minor resistance shown @ 70500 satoshis. Price looking to break structure and test 55200 support zone.
Conclusion
Buy after break and close above 75700 satoshis / Wait for bounce off 55200 satoshis.
