The price had been going up for a while, and now, it started to go down.
How far would this downward trend go?
The two different candles are attractive. They could be a signal for turning. Also, the price broke out from the lower band of the Bollinger Bands, this tells me that the price met a pressure here, this pressure could press the price to go toward the middle.
For now, the trend does not show up, so the MACD cannot provide too many signals because it is a lagging indicator.
The Bollinger Bands do not show too much change, however, the breakout is enough for the Bollinger Bands to push the price.
Let’s wait for the price to go up.
How far would this downward trend go?
The two different candles are attractive. They could be a signal for turning. Also, the price broke out from the lower band of the Bollinger Bands, this tells me that the price met a pressure here, this pressure could press the price to go toward the middle.
For now, the trend does not show up, so the MACD cannot provide too many signals because it is a lagging indicator.
The Bollinger Bands do not show too much change, however, the breakout is enough for the Bollinger Bands to push the price.
Let’s wait for the price to go up.