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NCI NASDAQ's Cryptocurrency Index SHORT
Neo-Concept International Group Holdings Limited
NCI NASDAQ's Cryptocurrency Index SHORT
By AwesomeAvani
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Updated
Mar 5
2
Cheer
Cheer
Feb 29
On a 2H chart, the index has had a 125% trend up since October averaging 25% per month but
accelerating. I wanted to see if there are any signs of an impeding correction given the
uptrend's duration. The past week added about 10% which seems unsustainable. The RSI is
not yet in high overvalued /bought territory but is on the approach. The predictive algo
indicators may suggest some upside but when zooming in the trendlines are relatively flat.
The candlesticks are showing prominent topping wicks. The Bollinger bands show a
" upper band march" after the run up of the past week.
Overall, at least for the immediate to intermediate term, I see no upside for this index.
As applied to my trading, I will take no new long positions of BTC and ETH. I will consider
taking partial profits at the highs of the upcoming several days at 10% each time. At some point
when a reversal is more definitive I may take short positions in them.
Mar 1
Trade active
Crypto index is sideways awaiting further accumulation vis distribution before a move.
Mar 5
Comment
The crypto index has returned to bullish momentum.
bollingerbandanalysis
BTC
cryptocurremcytrade
ETH
Moving Averages
NCI
Oscillators
overbought
overvalued
TTM
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