XBTUSD (1h time frame)

BTC has currently 3 support lines, with a defined demand zone and 2 resistance lines, with a defined resistance zone , considerations:

- SHORTS

if breaks any support (uptrend supports and normal support)
take profits on demand zone
if breaks the demand zone , open again

- LONGS

if breaks any resistance (downtrend resistances and normal resistance)
take profits on resistance zone
if breaks the resistance zone , open again
RSI looks really overbought

My opinion, the currently scenario shows XBT going to test downtrend resistance but I believe it will fall to 16500 area ( demand zone , 0.5 or 0.386 fibo level), but will bounce back and will go higher until new year's eve and xmas.

Comentarios:

- Bollinger Bands

Shows bullish trying to catch control again by the upper line, but a bearish movement has started by the lower line.

- DMI

Shows bullish converging to bearish line, showing bullish trying to catch control.

- MACD

The green line needs to cross the red line up to show bullish movement.

- RSI

Looks really overbought, a long opportunity its really near, unless it breaks the major uptrend support line.