BTC weekly showing a potential close above our $7,750 resistance, stochastic RSI showing momentum shifting towards the upside. A close above this level is a good sign price will continue towards the upside. Expecting a small retracement next week, followed by a wick fill.
Shifting over to our pattern timeframe we see the price has broken its inverse head & shoulders and is currently being tested for support. Stochastic RSI showing a slow down in momentum, however, let us not forget indicators rely on price. A daily close above $8,000 leaves a higher low imprint, and we can expect our dynamic resistance of $8,700 to be broken.
Finally looking at the trigger timeframe we see the price currently making a move towards $8,100. A 4hour close above $8,000 activates trade, Stochastic RSI showing momentum shifting towards the upside. Expecting a radical move to happen in the following days. A rejection from $8,000 can still send BTC towards our $5,500 level.
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