4HR Time Frame: A lot of choppiness in XBT right now. Currently stuck in this 4900-5200 range. Price has bounced off horizontal support and the .618 Fib level 3 times now and it has held every time so far. Price has broken out of this downtrend line. RSI has now made a new high on the 4hr timeframe and MACD histogram has flipped from negative to positive. Stoch has crossed over as well. From an EMA perspective the 9d has crossed back over the 20d, indicating positive momentum. Still holding my spot BTC position as I have been stopped out of my short hedge. I will hold off from taking any leveraged positions until I get some more confluence of a trend during this time of sideways action. However I am leaning bullish as my momentum indicators have flipped positive but I am still skeptical. If we get a pullback and retest of the down trendline and ema's I will look to add a small leveraged long position targeting the previous highs and the 5700-5800 region. I will hold off shorting unless we break the .618 level or I see any glaring divergences which then I will update you all with my thoughts. For now still hodling and watching price action.
ChiTrades
ChiTrades