$EFL #ElectronicGulden - Bear, but could be opportunity if...

BITTREX:EFLBTC   ElectronicGulden / Bitcoin
I'd stay away.


- Flirting in the lower portion of a bear cloud. Next weekly candle (if price remains in this range) will leave cloud, and exist under.


- Steep downward sloping fast 5/15 MACD . Broke Zero Line
- Downward sloping slow 12/26 MACD trailing right behind.
- Momentum downward in combination with Bandwidth coming out of a squeeze (high volatility ahead)
- Currently, daily candle is outside the lower 2nd std dev line. Should come back in soon.
- Tenkan / Kijun C-Clamp - Bear


- Downward sloping double MACD
- Exiting the squeeze in the Bandwidth (Volatile)
- Well beyond outter 2nd std dev line. Should come back within shortly.

Verdict - Bear

Signs to enter (Look for):

- Daily fast MACD 5/15 retracing and crossing zero line from bottom to top with slow MACD 12/26 following in same direction
- Bullish cross in 4-hour cloud

Saving grace (So far):

- Strong support shown in daily cloud with hard rejection candle (1.5 hrs remaining)

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