As the orange trend line I marked, the price has been falling for a while. And the slope becomes steeper and steeper.
Can we trust this trend?
I think this trend could last for a while.
First, we can see that the MACD lines tried to make a bullish cross, however, they failed. The pressure was not enough, which means the bearish power is still strong.
This power can be proved from the candles, as we can see, the candles become bigger.
So, let’s expect the price to go down.
Can we trust this trend?
I think this trend could last for a while.
First, we can see that the MACD lines tried to make a bullish cross, however, they failed. The pressure was not enough, which means the bearish power is still strong.
This power can be proved from the candles, as we can see, the candles become bigger.
So, 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.