It appears the consolidation is about over from yesterday, BNBUSDT MACD is about to Cross, RSI is ticking down and further downtrend expected. Noting that BTC looks similar in pattern also.
what is your take on the 4h RSI in relation to this ? (its at 25 I think )
JustinSchapansky
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@blockchainbull33, Hi... The faster moving K on the Stoch RSI is making a lower low, crossed it's support trendline (not shown) yesterday and considering the MACD showing a close Crossover and the RSI coming down, seems super likely for the break to lower levels. I'm no expert but I would short when the Stoch RSI is back up at the top if no positive breakout has occured above the upper resistance line on the chart.
blockchainbull33
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@JustinSchapansky, never thought to look at the Stoch for patterns... wow thank you and solid analysis . I wish you the best ! (im hoping it to consolidate since I cant short ;)
JustinSchapansky
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@blockchainbull33, Certainly... If you look at BTC with weekly candles, apply Bollinger Bands, this week's candle is hanging with the Moving Avg tanking and the lower BB is at about 2,750. Just seems it has to come down to bounce on the weekly for the large downtrend to stop and then turn long term Bullish. I would like that as well... Best of luck also.