$7,700 Dip, BTC

11 May 2018

Daily
Looking at our highest timeframe we see price has double topped just below $10,000 and has broken through our $9,000 support. Minor support @ $8,700, if price does not hold at this level expecting a drop towards $7,700. Stochastic RSI showing momentum is bearish.


4Hour
Shifting over to our pattern timeframe we see price has returned to it’s bearish trend and is forming lower highs and lower lows. Next 4hour support @ $8,700, if price does not hold at this level expecting a drop towards $ 7,700. Stochastic RSI showing momentum is bearish.

Conclusion:
Buy: After 4hour support @ $8,000 zone.