$BTC, Next Stop $7,500

4 Jul 2018

Weekly
Looking at our trend timeframe we see price has found support at our $6,000 level, does this mean the bear market is over? A weekly close above $8,000 would indicate our bear market is over according to my analysis. Expecting a rejection once $7,500 is reached, stochastic rsi showing momentum is heading towards the upside.


Daily
Shifting over to our pattern timeframe we see price has broke out of its aggressive downtrend, and tested for support. Stochastic RSI showing momentum has peaked, a daily close above $6,750 activates our 2nd trade and we should see a run towards $7,500.


4Hour
Finally looking at our trigger timeframe we see BTC forming higher highs and higher lows, A close above $6,600 gets us an early next for the next bullish wave.