Bear Trap? XBTUSD 1H Timeframe

Prices for XBTUSD dropped and moved below EMA100 but found support at the 0.786 Fib. level, now we see prices moving back up.

Is this a bear trade?

We also a bullish divergence with the MACD and RSI.

As long as prices stay above $6635.5, XBTUSD can still go up (bounce).

If prices move and close below $6635.5, Bitcoin is likely to continue lower... Let's see how it goes.

Namaste.

Kommentera:

Going good so far.