Momentum isnt strong enough to have meaningful follow through. Also the previous 12 hour candle is somewhat troubling. I am of the opinion that we need to start moving down lower and have a full blown panic before we move back up. That being said the 2 hour chart does look nice but isnt enough for me to want to risk any capital.
Immediate Forecast: 70% Bearish
Long Term: VERY BEARISH(Unless we get some news)
Be Patient, I dont believe this bear market is over.
Good Luck and God Speed Gents,
Mr.Manbearpig
Immediate Forecast: 70% Bearish
Long Term: VERY BEARISH(Unless we get some news)
Be Patient, I dont believe this bear market is over.
Good Luck and God Speed Gents,
Mr.Manbearpig
Note
Volume decreasing which supports the above analysis.
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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.