At the moment XBT is in a tight equilibrium, within the given box are the current resistance and support zones. A close below 6562 on the 30min candle would signal more down and a close above 6642 would signal a new upmove.
The reason I say equilibrium at this level is because on one hand we have an uptrend and a possible bull flag but on the other hand (and this is with yesterdays daily candle close and not being able to break 6700) we have a clear bear divergence on the daily followed by a downward move. The oscillators are pointing downward on the daily indicating we could be heading back down.
If this dows happen, ther 2 supply zones are at 6300 and 5950. If those levels don't hold expect to break current low at 5743.
The reason I say equilibrium at this level is because on one hand we have an uptrend and a possible bull flag but on the other hand (and this is with yesterdays daily candle close and not being able to break 6700) we have a clear bear divergence on the daily followed by a downward move. The oscillators are pointing downward on the daily indicating we could be heading back down.
If this dows happen, ther 2 supply zones are at 6300 and 5950. If those levels don't hold expect to break current low at 5743.