The price has been falling for a while. And now, it tried to recover from the falling trend. Let’s see, the high point reached the 0.618 level of the Fib, which is a really high point.
So, what would be the next step for the price? Would it retrace back to the downward trend?
The price seems not to break out the 0.618 level of the Fib, it only tests once.
Also, we can see that the Bollinger Bands just went through a shrink. So the changes could start here.
The MACD is making a dead cross, and RSI is making a lower high.
Let’s expect the price to go down.
So, what would be the next step for the price? Would it retrace back to the downward trend?
The price seems not to break out the 0.618 level of the Fib, it only tests once.
Also, we can see that the Bollinger Bands just went through a shrink. So the changes could start here.
The MACD is making a dead cross, and RSI is making a lower high.
Let’s expect the price to go down.
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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.