Bear pressure running out? Weekly indicators bottoming
The RSI and MACD on the weekly are starting to bottom out and show oversold conditions. I still think we have some room to drop possibly, but it seems to be a dangerous zone to trade at this time.
I'm going to wait to see the RSI hit 30's and the MACD start its reversal on the weekly chart before entering long positions. Until then, there is little liquidity in the market and higher risks of gross manipulation and/or wild moves.
I'm going to wait to see the RSI hit 30's and the MACD start its reversal on the weekly chart before entering long positions. Until then, there is little liquidity in the market and higher risks of gross manipulation and/or wild moves.
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