Looking at our highest timeframe we see price forming higher lows, and continuing it’s trend towards the upside. Last week we had a strong breakout of our range 17500 and 27000. This week expecting a small retracement towards our breakout zone to test for support. Stochastic RSI showing no signs of slowing down on weekly.
Shifting over to our patter timeframe we see price has hit minor resistance at 36000, expecting some sideways action at this level for a couple of days. Stochastic RSI showing momentum is heading towards the downside temporarily. Not expecting price to retrace lower than 30000, a daily close above 36000 activates our trade.
Finally looking at our trigger timeframe we see price broke out of an ascending channel and has tested for support. Potential double bottom at this 32000, stochastic rsi showing momentum is near bottom.
Conclusion
Wait for daily close above 36000
