XBT has tried to break that key level of resistance multiple times now, the more times it is rejected the weaker it gets.
after a quick spike up to 7300 last night we still closed below that resistance level.
yesterday we broke the supply zone so you will see I have made the new supply zone which is at high 7's
at this stage in my opinion if we close above res we will be heading up to the 7800 mark
however over the next few days I will be keeping a close eye on this trendline. (the trend is your friend)
if it doesn't respect the trend then down we go to 5800.
Trend bias still bullish
over the weekend I will post some other bitmex pairs for you guys
4hr XBT
after a quick spike up to 7300 last night we still closed below that resistance level.
yesterday we broke the supply zone so you will see I have made the new supply zone which is at high 7's
at this stage in my opinion if we close above res we will be heading up to the 7800 mark
however over the next few days I will be keeping a close eye on this trendline. (the trend is your friend)
if it doesn't respect the trend then down we go to 5800.
Trend bias still bullish
over the weekend I will post some other bitmex pairs for you guys
4hr XBT