As we can see the price is forming a rising wedge, which I would love to see. But, do we really know the turning point or the resistance point at all?
The MACD shows a cross, which is a death cross, however, one signal is not enough. The RSI seems to go down, but still at a high level. The volume does not show any signal for bearish.
So, the only signals here are rising wedge and death cross. And we cannot see if the rising wedge is finished or forming.
Let’s just wait for more signals to show up.
The MACD shows a cross, which is a death cross, however, one signal is not enough. The RSI seems to go down, but still at a high level. The volume does not show any signal for bearish.
So, the only signals here are rising wedge and death cross. And we cannot see if the rising wedge is finished or forming.
Let’s just wait for more signals to show up.
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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.