5.24BTC such divergence often heralds a potential trend reversal or continuation of correction!


After Trump's speech last night, market prices are in a rather weak state, the overall market shows signs of strong downward pressure and lack of growth. From a 4-hour analysis perspective, the market may continue to decline towards the support level of 106000, influenced by a divergence pattern at the top and MACD death signals, the market trend leans towards falling and testing support.
K-diagram formations: the appearance of the peak and the mother candle are important bearish and reversal signals, these shapes suggest possible changes in the price trend at different points in time.
BOLL: The current price is between the middle and lower bands of the Bollinger Bands, indicating weakness; the narrowing of the upper band predicts a potential increase in volatility.
MACD: The death of DIF and DEA and the transition of red bars to green hint at a weakening market momentum, overall being in a downtrend.
Recommended action: sell in the range of 109800-109000, stop-loss at 800 points, target - support around 106000.
Ethereum trading recommendations: short in the range of 2620-2660, stop-loss level 60 points, target 2500-2450.
This interpretation is merely a recommendation, be cautious when investing.
BTC0,39%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)