Long

$BTC $USD $BTCUSD Carry On

Weekly
BTC weekly showing a potential close above our $7,750 resistance, stochastic RSI showing momentum shifting towards the upside. A close above this level is a good sign price will continue towards the upside. Expecting a small retracement next week, followed by a wick fill.

Daily
Shifting over to our pattern timeframe we see the price has broken its inverse head & shoulders and is currently being tested for support. Stochastic RSI showing a slow down in momentum, however, let us not forget indicators rely on price. A daily close above $8,000 leaves a higher low imprint, and we can expect our dynamic resistance of $8,700 to be broken.

4Hour
Finally looking at the trigger timeframe we see the price currently making a move towards $8,100. A 4hour close above $8,000 activates trade, Stochastic RSI showing momentum shifting towards the upside. Expecting a radical move to happen in the following days. A rejection from $8,000 can still send BTC towards our $5,500 level.

The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

UnknownUnicorn2434649

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.