XBT Short-Term (1H)

We have a bearish continuation/consolidation pattern.

- XBT broke down yesterday, 20-Nov.
- We have multiple strong bearish candles ending in a new low.
- Bullish candles are being rejected closing with long upper wicks.
- Trading below EMA10 and EMA21 signals lower.

CHANGE
Moving and closing above $16,350 on the 1h timeframe can signal recovery.

Note: This is a short-term analysis.
It won't be valid for long.

Thank you for reading.

Namaste.

Trade closed: target reached

Comment:

Nothing has changed. We continue with the bearish bias short-term.
Invalidation point has been lowered to $16,050 to match EMA50.