The price touched the upper band of the Bollinger bands, which I marked with a red circle. This could be a resistant point and the price faced pressure. As we know the price could move toward the middle line. So, the Bollinger bands give us a bearish signal.
Then let’s look at the MACD lines. It seems inconsistent with the Bollinger Bands. But, If you take a closer look at the MACD, we can see that the blue line already went down a little bit, so it may form a dead cross in the near future.
The RSI is still at a high level now, however, it is going down right now. So I would still consider it a bearish signal. And I believe it could down to 35 soon.
Let’s expect the downtrend.
Then let’s look at the MACD lines. It seems inconsistent with the Bollinger Bands. But, If you take a closer look at the MACD, we can see that the blue line already went down a little bit, so it may form a dead cross in the near future.
The RSI is still at a high level now, however, it is going down right now. So I would still consider it a bearish signal. And I believe it could down to 35 soon.
Let’s expect the downtrend.
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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.