🅱️ XBT Short-Term 1H | 20-Dec.

We just had a shakeout yesterday which can be taken as a bullish signal.

A breakdown of support is obviously bad but seeing prices quickly recover after a drop is a sign of bullish strength.

Bitcoin (XBT) remains within the same range as the 16-Dec. drop.

Our main support levels will remain $16,580 and $16,100.
We remain bullish above these levels short-term.

Going below these levels and the bears can gain momentum.
Patience is key.

We will start looking at the Altcoins and see if some went ahead.
Since the Altcoins are smaller than Bitcoin, they can give us signals by bouncing stronger/faster than bitcoin.

Thanks again for reading and feel free to boost 🚀 if you enjoy the short-term updates and would like to see more.

Namaste.

Comment:

Bitcoin (XBT) stays within the same range and the bullish bias we described remains intact.

It is becoming stronger based on outside events.

Some altcoins are starting to go bullish while it looks like the SPX is also bouncing.
Early signals but they coincide with what we saw here.