XBT $6600 incoming, hold on tight!
Simple one today.
Update:
XBT hit the 10100 area I was targeting in my last analysis before a big selloff as expected.
On the daily we are still in an upwards channel and testing the 50EMA
The line chart makes the channel much clearer to see.
I am still bearish because even with the big sell off last night, volume is still decreasing, RSI showing bearish divergence and we’re currently testing the 50 EMA.
I want to see a break below this channel and the 50 EMA. If we then break and close below the 200 EMA and support at around 8400 then I’ll be shorting with targets around 6600.
Update:
XBT hit the 10100 area I was targeting in my last analysis before a big selloff as expected.
On the daily we are still in an upwards channel and testing the 50EMA
The line chart makes the channel much clearer to see.
I am still bearish because even with the big sell off last night, volume is still decreasing, RSI showing bearish divergence and we’re currently testing the 50 EMA.
I want to see a break below this channel and the 50 EMA. If we then break and close below the 200 EMA and support at around 8400 then I’ll be shorting with targets around 6600.
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