Looking at our highest timeframe we see price formed a lower high at 200000 followed by a lower low at 80000. Lower high again at 100000, price is now currently testing our major support zone at 70000. Stochastic RSI showing momentum continuing towards the downside, no signs of slowing down.
Shifting over to our pattern timeframe we see price had a sudden drop from 75000, price has since remained inside our master candle. Stochastic RSI showing us momentum is heading towards the upside, a daily close above 75000 activates our trade. However if we do not close above this level expect a drop towards 50000.
Conclusion
Wait for a daily close above 75000 / Bounce off 50000
