As we can see, the price had been in an upward trend for a while. Then, it started to form a descending triangle.
As we know, the descending triangle is a signal for bearish, however, we cannot just depend on this signal.
The volume shows that the sellers are more confident.
From the MACD and the RSI, we cannot gather too much information, however, the MACD is a lagging indicator, the signal may show up later.
Let’s wait for the price to go down
As we know, the descending triangle is a signal for bearish, however, we cannot just depend on this signal.
The volume shows that the sellers are more confident.
From the MACD and the RSI, we cannot gather too much information, however, the MACD is a lagging indicator, the signal may show up later.
Let’s wait for the price to go down
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.