XBT has created new market structure and we are back to the price level pre covid-19
There is strong resistance to break with an equally as strong supply block, the next supply level isn't as strong (due to only a small consolidation zone before it) meaning we could easily break though it.
XBT is a no trade zone for me at this stage. I will be looking for shorts if the retest fails to close above resistance.
The demand zone is very strong with a decent consolidation zone before it and lots of previous structure. if we make it back down there, in my opinion it wont be for long.
XBTUSD D
There is strong resistance to break with an equally as strong supply block, the next supply level isn't as strong (due to only a small consolidation zone before it) meaning we could easily break though it.
XBT is a no trade zone for me at this stage. I will be looking for shorts if the retest fails to close above resistance.
The demand zone is very strong with a decent consolidation zone before it and lots of previous structure. if we make it back down there, in my opinion it wont be for long.
XBTUSD D