Looking at our trend timeframe we see price has bounced off our dynamic & horizontal support. BTC seems to have formed a descending wedge pattern, price is looking for a 3rd bounce off this dynamic support for a confirmation. Stochastic RSI showing momentum has bottomed out. A daily close above $6,800 activates our trade, however if we fail to close above $6,800 expecting price to fall towards $5,000.
Shifting over to our pattern timeframe we see price following normal downtrend behavior lower highs and lower lows being formed. Focusing on the right part of the picture we see price broke its mini downtrend and has formed a double bottom. Stochastic RSI showing momentum is extremely bullish on the smaller timeframes, we could be seeing an asian session push BTC up towards $7,000 where we find our first major resistance.
Finally looking over at our trigger timeframe we see price has found minor resistance at $6,700, momentum still looking bullish on the smaller timeframes. Wammie double bottom shown, waiting for an hourly close above $7,000 to activate our trade.
