The price had been going down crazily from Sep 1st to Sep 3rd. And then, the price entered a platform, then fluctuated around 1.18285 for a while, then went down again.
Traders may not trust this movement. The candles are short and small, they do not even have long tails.
Is this downward movement trustable?
I would say: it could be trusted.
The Bollinger Bands shrunk, which means the price could make a big change in the near future. And now, the price is still within the Bollinger Bands, the big change could be a breakout, from the lower band.
Also, the MACD and RSI are both showing bearish signals They are both in the downward trend.
The volume shows the traders’ confidence too.
Let’s expect the price to go down.
Traders may not trust this movement. The candles are short and small, they do not even have long tails.
Is this downward movement trustable?
I would say: it could be trusted.
The Bollinger Bands shrunk, which means the price could make a big change in the near future. And now, the price is still within the Bollinger Bands, the big change could be a breakout, from the lower band.
Also, the MACD and RSI are both showing bearish signals They are both in the downward trend.
The volume shows the traders’ confidence too.
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.