🅱️ XBT Short-Term 1H | 17-Dec.

Bitcoin (XBT) is trading within a descending channel.

- Chart signals are bearish.
- Trend bearish.

There is a bullish divergence with the RSI.
Potential for a reversal in the current zone possible.

Main support $16,500.
Above this level bitcoin can break out of the descending channel and move up (green arrow).

Below $16,500 this analysis is invalidated.

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4H timeframe


Namaste.