Looking at our trend timeframe we see price continuing to respect it’s down trend. Support has been found at 500 satoshis, momentum also in favor of bulls. Last time we were at this price was back in December 2017, will watch smaller timeframe for reversal.
Shifting over to our pattern timeframe we see price has formed an inverse head and shoulders, and is now looking to retest it’s breakout for support. Today’s high 653 satoshis, with an open at 650 and a low of 609. Stochastic RSI showing momentum has topped out and is now in favor of bears and we should expect a minor retracement. A daily close above 625 activates our trade.
