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