Signals:
Position: Short
Entry price: Limit order at 119,537
Target price 1: 101,570
Target Price 2: 72,837
% decrease: P1: 15% P2: 39%
Indicators:
DMI: The ADX line is showing strong signals of a trend and the D+ line is staring to slope
downwards as well as the D- line is showing signs of a downtrend as about to start.
RSI: The RSI line was above 70, a t81,80 and has started towards 58,34and signs of being overbought.
MACD: In this indicator has the MACD line crossed the signal line and negative momentum has started.
Fear and Greed: This indicator indicates that the market has extremely greedy investors and that the market is due for a correction.
Analysis:
The analysis indicated on bearish signals from both the three indicators, where DMI shows negative momentum, RSI is showing signs of the cryptotoken being overbought and the MACD line is showing signs of bearish momentum. A recommendation is to enter the trade when the price brakes below the support and retests it successfully as a resistance.
Fear and Greed Index is showing extremely greedy investor climate resulting the market waiting for a correction. Together with this index and the other three indicators is the analysis able to show signs of a short position.
No Financial Advice.
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