XBTUSD Bullish and bearish scenarios, what to look for

Looking at the 1H chart currently:

Bullish signs:

Retrace into optimal fib zone for now
Some local higher lows

Clean break above 4040 would add bullishness

Bearish signs:

Struggling to stay above that white level which is also 0.5 of the range we're in right now
Made a swing failure which indicates a stop run was made for shorts

Clean break below 3730 (last low) would add bearishness.

Overall I'm leaning bearish for now, but we'll have to see a break on either side to decide further action.

Trade wisely.

Commentaire:

Bearish development.