Daily Chart
- Price seemed like it broke below the $6300 support level but it reversed, now trading above that level.
- The sliding parallel of the downsloping median line offers support at the same level as the horizontals.
- RSI is oversold
240min Chart
- A clearer view of support offered from the sliding parallel
- RSI bullish divergence
Hourly Chart - A buy setup
Price is developing a bullish flag. Buy the breakout placing your stop-loss below the correction of the flag and aiming for a least the $7300 level.
All the best,
John
- Price seemed like it broke below the $6300 support level but it reversed, now trading above that level.
- The sliding parallel of the downsloping median line offers support at the same level as the horizontals.
- RSI is oversold
240min Chart
- A clearer view of support offered from the sliding parallel
- RSI bullish divergence
Hourly Chart - A buy setup
Price is developing a bullish flag. Buy the breakout placing your stop-loss below the correction of the flag and aiming for a least the $7300 level.
All the best,
John
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