ALICE — Bearish MACD Crossover + Bear Flag

ALICE has flashed a bearish MACD crossover on the hourly chart. Based on backtests, the signal is highly reliable for achieving 2% gains.

However, when looking at the chart, ALICE is trading in a bear flag. Therefore, if we see a break of the lower boundary, the price could go much lower since the next resistance is at ~1.05.

Therefore, it might be good to wait for a break to the downside before entering a trade.

Nevertheless, all signs signal more downside potential.

Let me know your thoughts.

Trade closed: target reached

Closing My Trade 💰

played out almost as expected. It went straight to the upper bear flag boundary right after the signal. Afterward, it descended and broke through the lower boundary (again, as expected). However, I expect some more sales pressure.

Since the overall market is turning green today, closing the trade and taking advantage of the gains might be wise.

If you opened the trade as planned, you should have 2.5% - 5%, and I think it's better to secure it.

ben_walther

I'm Ben. Crypto lover, trader, and coder.

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