Right now I see a bearish head and shoulders pattern developing on the 4hr chart. The 5350 region has been tested multiple times and we have seen some strong wicks off that region. On the RSI we also have bearish divergence at each of these price points as price continues to make higher highs but the RSI is making lower highs. I will be entering a short position on XBT as I believe that further upside is still possible however the risk to reward to go long is not there in my opinion. My downside take profit target is the green box 4950-4800 region, this is where I'll look to cover and possibly take a long position.
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