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Weekly
Looking at our trend timeframe we see price continuing to respect our downtrend with no signs of reversal. Stochastic RSI showing momentum is in favor of bears, will watch smaller timeframe for entry. Last time we were at this price we saw a sell off from 17000 to 5000.
Daily
Shifting over to our pattern timeframe we see price has formed a lower high at 18000, and is now looking to form a lower low. Stochastic RSI showing momentum is in favor of bears with no signs of reversal. A daily bearish engulfing leads us to a sell off towards our 5000 support. Psychological support at 15000, a daily close above 17000 activates our trade.
Conclusion
- Buy: After Daily Close Above 17000
- Sell: Nooo
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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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