This describes a common set up for the US stock market NASDAQ COMPOSITE bubble. Most concerning to me technically is the 2 part bearish regular divergence on the 1 month candle chart and the recent break out of linear resistance. It's hard to tell how long and how far up we can extend.
Please see callouts. Set your order as a stop, do not take position unless we move down.
Dash has many wicks exploring upperbounds of its strong daily channel. Take a look at call outs.
Take a look at callouts for explaination. Note that a lot of my indicators are also saying that we are currently overbought (probably because we just had bullish divergence on 5min x 3, but that isnt going to be strong enough to break linear resistance and overall downward trend).
The 4-hr RSI is in a downward trend since the initial bull market on 04/02/17. We are at the top of this channel and we will see a movement downward of RSI (and therefore price). There is not enough upward momentum in this push to get past 60 RSI on the 4-hr. We continue the downward trend. I have drawn a box where the consolidation range is. This information...