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Overbought

ETH Overbought - Corrective WaveCrypto markets have seen a nice pump in the past week, but ETH is currently overbought on RSI at the 6H, 4H, 2H and 1H, and has bumped heads with the long downward trendline originating at the start of December. Medium term this may be the start of a big reversal that sees us heading back up, but in the short term I expect we will see this trendline acting as resistance and ETH to take a breather, stepping back to the 2750-2800 level, which sits between the 0.236 and 0.382 Fib levels.
BINANCE:ETHUSD.PShort
by HayeTrading
14
EURNZD - OVERBOUGHT - big correction lower expected ?Hello Traders Here is a new SELL Scenario, a big drop is expected before going up until 25 february, bullish will be exhausted soon ? Will EURNZD follow its seasonal pattern lower again this year ? ✅ EUR / NZD SELL between @1.70900 and @1.71300 TP1 @1.71100 TP2 @1.70900 TP3 @1.70700 SL @1.73500 JamdeJam will not accept any liability for loss or damage as a result of reliance on the information contained within this channel including
Short
by UnknownUnicorn20731539
BTCUSD two scenario, watch out for break outBTCUSD is between resistance level 38322 and support level 37521. if BTCUSD breaks and close below 37521 and the trend line, wait for pullback or retest of 37521 and go short target is 35550. if BTCUSD fails to breaks below 37521 and the trend line and breaks above 38322 wait for retest for long position but 38322 is strong resistance level which i think BTCUSD will need some strength to break which is the reason why BTCUSD has to go down to pick up some strength.
COINBASE:BTCUSDShort
by ExtraOrdy
ADA/USD - updateWe have seen a very nice rise with ADAUSD since the 11th Jan with increasing Volume on this Binance 1d chart. The only issue at the moment is that BTC is dragging everything down with it so ADA is having trouble maintaining its rise at the moment. ADA is above its Bollinger Bands Middle Band Basis 20 Period SMA and note that we have expansion of the Upper and Lower Bands and this expansion is for positive momentum. Not that ADA is above its Bollinger Bands Upper band so a retracement back under the Upper Band shouldn’t come as a surprise. Note that ADA is still above its Least Squares Moving Average (LSMA) for this 1d timeframe. ADA is still in the Bearish Zone of the Ichimoku Cloud but note that ADA has risen and is now getting close to the Leading Span A (Senkou Span A) resistance Level. Note that ADA is still above its Longterm Pitchfork Median Line on this 1d timeframe. ADA is still above its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 8x daily candles that i have selected. ADA is still above its Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range. Note that Volume has increased and yesterday’s Volume Bar closed above its Volume 20 Period Moving Average and today’s Volume Bar will also close above it. If we look at the Moving Average Convergence Diveragnce (MACD), we can see that the MACD Line (Blue Line) has crossed back over the Signal Line (Orange Line) generating a Buy Signal on the 13th-14th Jan and note that the MACD Line (Blue Line) is very close to crossing back over the 0.0 Base Line into the Positive Zone of the MACD indicator. Note that the MACD Line (Blue Line) has not been in the Positive Zone above the 0.0 Base Line since the 17th Sept 2021 so this will be an important move. If we look at the Average Directional Index (ADX DI) we can see that the +DI (Green Line) is at 25.30 and has crossed back over the -DI (Red Line) which is at 14.28. this means that Positive Momentum is stronger then Negative Momentum on this 1d timeframe. Note that the Trend Strength is slightly weak with the ADX (Orange Line) at 18.94 under it s 9 Period EMA (White Line) which is at 19.85 and under the 20 Threshold. Note that the ADX (Orange Line) is pointing upwards so we may see another massive increased positive rise if the ADX (Orange Line) crosses back above the 9 Period EMA (White Line) and the 20 Threshold level. If we look at the Stochastic Indicator (STOCH) we can see that the %K (Blue Line) is in the Overbought Zone of this indicator. The %K (Blue Line) is pointing downwards but it is still above its %D (Orange Line). Be on the lookout for if the %K (Blue Line) stays above the %D (Orange Line) or crosses back below it. Note that because the %K (Blue Line) is in the Overbought Zone that doesn't see that it will drop out of it because the %K (Blue Line) can range sideways in the Overbought Zone for a prolonged period of time. Here is a wider look at this 1d chart. With such a rise it is not uncommon for the price to drop back under its Upper Bollinger Band before continuing upwards. If Upwards Momentum continues being strong then we may see ADA walk up along its Upper Band for a few days. As usual with BTC dropping, BTC is dragging everything down with it and slowing ADA’s rise, so we have to keep an eye on what BTC is doing because if BTC drops under $40K, then that will continue to drag ADA and all other alts down with it. I hope this is helpful with your trading and hodl-ing.
BINANCE:ADAUSD
by TradingThroughTheLens
1
AT&T Bearish DivergenceThere's a bearish MACD Divergence on the AT&T daily chart. And to confirm this signal: RSI hasn't been in the overbought area for a while - but now it is. Looking at the MACD, we see that MACD and the Signal Line are still moving in the same direction - to indicate a trend reversal we would need to see the MACD cross the signal line from above - so there's no bearish signal yet - BUT - the MACD histogram shows two hills with the second one (the newer one) being not that big as the first one. This might indicate that the price will still rise a bit to the resistance at 27.06 (R2) and then - after MACD crossed the Signal Line - it will fall to the monthly Pivot Point at 23.93. Usually, the Pivot Points get touched by the price in the current or in one of the following time periods. So there are multiple Indicators to second the bearish Signal.
NYSE:TShort
by TradingClue
AUD CAD Short Idea AUDCAD has been in a decent uptrend for most of December, however, it has started to approach a key resistance level on the 4hr time frame. The key level mentioned is the 0.925 level which is the high of early November. The RSI indicators on the daily/4hr time frame show an overbought bias, coupled with the approach to the key level mentioned above leads me to think that the price will drop from here. The initial target of this trade is located at the 0.9175 area, following this then the next target lies at 0.9143. The stop-loss area for this trade is at the 0.93 level. A likely scenario that I'm looking for sells near to the 0.925 area.
Short
by Orion-Markets
GBPNZD Short Idea Since breaking the 1.936 level, there have been two failed attempts to break the key resistance level of 1.97 (October 11th high). The 1.936 level is now acting as a support zone which price respected earlier on in December. As there hasn't been a convincing break of this level it's very likely that the price will fall and re-test the support level mentioned of 1.936. The RSI levels are in overbought conditions at 89.36 on the 4hr chart, suggesting that a drop in price is probable. The initial target of this trade is located at the 1.95 level, proceeding this would lead to the previous support level of 1.936. The stop-loss area is at 1.975, just above October high.
Short
by Orion-Markets
SPY- Bearish- UpdateJust posting another update here on the SPY- Bearish megaphone is playing out as expected but also a very big week for the markets fundamentally speaking. Fundamental Rationale A lot of big economic events this week including retail sales, the Fed's final decision regarding monetary policy, FOMC press conferences on both Tuesday and Wednesday, and to top it all off, quadruple witching on Friday 12/17' to close out the week. Fundamentals aside, the SPY is still looking quite bearish- Some FIB levels and RSI-based supply and demand zones to keep an eye on on the meantime, bearish and hedged- (Previous Charts Attached Below) - Still holding a big rising wedge (Bearish) - Bearish cypher formed on the hourly timeframe along with a gap fill on the downside (See Attached Chart Below) - RSI is nearing, or in overbought territory on almost every timeframe - Bearish Hidden Divergence on the SPY Daily, Weekly, 4-Hour, and Hourly Timeframes - The SPY rejected a critical RSI-Based Supply Level on the weekly timeframe & is sitting on the 20-day SMA (See Attached Chart Below) -Weekly- -Hourly- -Previously Charted-
AMEX:SPYShort
by jacobosiason7
5