Confluences:
-Monthly Fib Ratios have all been tested, priced has reached the -1.3618 FIB TP range. (Strong indicator of a reversal since it's a peak of the entire move since Sept 2022 (3 years)
-RSI is in overbought territory if we compare it to the left side of the historical moves which happened (Look at the blue line)
-Fundamentals maybe in favor of profit taking and tariffs issues cooling down in the weeks to come which could signify that we are at the top of the bullish move.
-Wait for confirmations and engulfing candle to paint on the chart which indicates strong selling pressure before taking any trades.
-Buying at ATH prices, will not be recommended for now since late buyers clouded in FOMO often end up losing their money if this sells off aggressively
Cheers
-Monthly Fib Ratios have all been tested, priced has reached the -1.3618 FIB TP range. (Strong indicator of a reversal since it's a peak of the entire move since Sept 2022 (3 years)
-RSI is in overbought territory if we compare it to the left side of the historical moves which happened (Look at the blue line)
-Fundamentals maybe in favor of profit taking and tariffs issues cooling down in the weeks to come which could signify that we are at the top of the bullish move.
-Wait for confirmations and engulfing candle to paint on the chart which indicates strong selling pressure before taking any trades.
-Buying at ATH prices, will not be recommended for now since late buyers clouded in FOMO often end up losing their money if this sells off aggressively
Cheers
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.