Welcome! The current trend for the TOTAL Crypto Market Cap on the weekly timeframe is bearish, as indicated by our trading system:
MLR Crosses SMA: The Moving Regression Line (MLR) in blue is below the Simple Moving Average (SMA) in pink, signaling a bearish trend.
MLR vs. BB Center Line: Both the MLR and SMA are below the Bollinger Bands Center Line (orange), further confirming bearish momentum.
PSAR Flips: The Parabolic SAR (PSAR), indicated by black dots, is above the price, indicating a bearish trend.
Price vs. SMA 200: The price is above the 200-period Moving Average (red), indicating a long-term bullish trend despite the short-term bearish signals.
Current Strategy: Due to the bearish short-term signals (MLR below SMA, MLR and SMA below BB Center, PSAR above price), a long entry is not advisable at this time, despite the long-term bullish indication from the price being above the 200-period SMA.
Consider monitoring: Watch for a potential reversal where the MLR crosses above the SMA, the BB Center Line, and the PSAR flips below the price, aligning with the long-term bullish trend.
Monitor My Idea: Keep monitoring my idea for any changes in trend or for potential long entry signals.
That is it !
Thank you !
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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.