Looking at our trend timeframe we see SC continuing to respect it’s downtrend behavior. Our dynamic resistance has been hit at 100 satoshis, expecting a bounce off this level leaving us with a lower low below 75. No signs of reversal, momentum in favor of bulls. Last time we were at this price was back in December, where we spied from 50 to 650 satoshis.
Shifting over to our pattern timeframe we see today’s candle opened at 108, and left us with a high of 108. Today’s candle has not closed however we have seen a low of 97 and are currently testing our minor uptrend. Rising wedge forming, momentum in favor of bears expecting price to continue to sell off towards our support at 70. A daily close above 110 activates our trade, otherwise waiting for a lower low to form at/near 70 satoshis.
