While most of the pairs we have been looking at are already bullish, here we have one that is mixed.
➖ XNOBTC has been retracing after a major bullish breakout in December 2023.
➖ The bullish signal here comes from the fact that a bounce is happening exactly at the 0.786 Fib. retracement level relative to the December 2023 bullish breakout.
XNOBTC Bearish signals
The RSI is weak.
The action is happening below EMA10 and the rest.
Previous sessions closed red.
But, the current price range is a strong support level and worked back in August 2023. The stop-loss hunt event also happened right below this level.
Any trading above it —yellow on the chart— can be super bullish. If prices move below, bearish.
👉 Potential target can go to 100%-180% short-term.