XBTUSD Bullish and bearish scenarios, what to look for
Updated
Looking at the 1H chart currently:
Bullish signs:
Retrace into optimal fib zone for now
Some local higher lows
Clean break above 4040 would add bullishness
Bearish signs:
Struggling to stay above that white level which is also 0.5 of the range we're in right now
Made a swing failure which indicates a stop run was made for shorts
Clean break below 3730 (last low) would add bearishness.
Overall I'm leaning bearish for now, but we'll have to see a break on either side to decide further action.
Trade wisely.
Bullish signs:
Retrace into optimal fib zone for now
Some local higher lows
Clean break above 4040 would add bullishness
Bearish signs:
Struggling to stay above that white level which is also 0.5 of the range we're in right now
Made a swing failure which indicates a stop run was made for shorts
Clean break below 3730 (last low) would add bearishness.
Overall I'm leaning bearish for now, but we'll have to see a break on either side to decide further action.
Trade wisely.
Note
Bearish development.
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