XBTUSD 1 Hr Mex Chart: Volatility incoming
•Been watching the 99 EMA on various timeframes, interesting how it seems to be a pretty well respected line for either support or resistance, particularly on lower TFs. Caught a nice short yesterday at $3840 looking at the 99 EMA and PA together.
•Also the RSI stuck below 50 is another indicator I’ve been keeping an eye on. I’m curious to see whether that RSI level being tapped repeatedly will break for a move up, or hold strong to push price further down. The tightening up of price/smaller body candles are a sign that a big move is coming soon, one way or the other. My gut says we see a quick move up to trap some bears, but not seeing any clear signs just yet.
•Also the RSI stuck below 50 is another indicator I’ve been keeping an eye on. I’m curious to see whether that RSI level being tapped repeatedly will break for a move up, or hold strong to push price further down. The tightening up of price/smaller body candles are a sign that a big move is coming soon, one way or the other. My gut says we see a quick move up to trap some bears, but not seeing any clear signs just yet.
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