Let's see how the indicators are now...
- It was time for a dip here as it had a continuous climb until almost overbought levels.
- It was at overbought levels for a looong time... finally came down.
- It was at overbought levels for a while before the dip.
- A closer look reveals that a cross-down looks quite natural and with smaller scales it has already occurred.
It's not just the cryptos market that's down atm, all the major indexes opened lower this morning: Dow Jones, S&P , Nasdaq, WTI Crude...
Conclusion: Putting all this together... it's not unexpected that a minor correction happens at that moment, right?
The indicator shows that bears have been losing their strength since the beginning of the major correction.