XBT Trade the Range Short Setup
For the past 4 months we have been trading inside this ascending channel
and broken out of it twice, once in October and November for our most recent
ATH .
Since then we have fallen back inside the channel and have tested our 58k region with a move to
the downside .
I would like to see 58400 level lost and see a move down to 55k eventually which will put us at
the middle of the channel and probably test the 100EMA .
Ultimately I would like to see a move to the bottom of the channel 50400 but its best to trade this level by level .
Until then I see continued weakness in the short term but the key here is trade the range your given .
Still scalp longs to be had off of the levels shown and short opportunity if we back test 60900 POC region .
Know your Invalidation and Like and Follow for all market updates and analysis
and broken out of it twice, once in October and November for our most recent
ATH .
Since then we have fallen back inside the channel and have tested our 58k region with a move to
the downside .
I would like to see 58400 level lost and see a move down to 55k eventually which will put us at
the middle of the channel and probably test the 100EMA .
Ultimately I would like to see a move to the bottom of the channel 50400 but its best to trade this level by level .
Until then I see continued weakness in the short term but the key here is trade the range your given .
Still scalp longs to be had off of the levels shown and short opportunity if we back test 60900 POC region .
Know your Invalidation and Like and Follow for all market updates and analysis
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