HAS THE MOMENT OF TRUTH ARRIVED FOR THE BULLS ?
Dear Reader,
I do not have a crystal ball and cannot predict the future with any certainty. However, I would like to present a possible outcome for your consideration!
The chart shows that:
1. We appear to have a squeeze at the top of a rising wedge, from where the price will break downwards relatively soon.
2. Divergence is present on the MACD & RSI indicators, which are powerful precursors for directional change.
3. The "Silly Willy" indicator shows ready for a sharp price decline.
Let's see how it plays out ... Happy trading !
I do not have a crystal ball and cannot predict the future with any certainty. However, I would like to present a possible outcome for your consideration!
The chart shows that:
1. We appear to have a squeeze at the top of a rising wedge, from where the price will break downwards relatively soon.
2. Divergence is present on the MACD & RSI indicators, which are powerful precursors for directional change.
3. The "Silly Willy" indicator shows ready for a sharp price decline.
Let's see how it plays out ... Happy trading !
Note
New evidence found. Will keep posting as more turns up.Note
Note
Please see my longer term idea:
Note
Please see this idea to track short and long positions, which signals trend direction: 
Note
Support for my suggestion that we might be starting a descending wave:Note
I've dug a bit deeper, trying to identify price targets for the move downwards. We could see a possible head and shoulders scenario playing out.
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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.
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.