Daily

Looking at our highest timeframe we see price is currently @ our minor support level $8,700. Stochastic RSI showing momentum is bearish, price not showing any signs of slowing down. Next support target $7,700. A break below this level and it gets scary for all of us.

4Hour

Shifting over to our pattern timeframe we price has formed a head and shoulders, tested and confirmed. Price has returned to it’s bearish trend. Stochastic RSI showing momentum is bearish. Psychological support level $8,000, expecting a drop towards $7,700.

Hourly

Finally shifting over tour trigger timeframe we see price not showing any signs of slowing down. Potential support here @ $8,700 although there are no signs and momentum remains bearish. Waiting for a daly confirmation before any further moves.

Link To Chart

Conclusion

• Buy: Wait for daily confirmation of support.
• Sell: No point

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Disclaimer: I am not a financial advisor nor am I giving financial advice. I am sharing my biased opinion based off speculation. You should not take my opinion as financial advice. You should always do your research before making any investment. You should also understand the risks of investing. This is all speculative based investing.