Quarterly chart is outside its implied range and is forming a shooting star candle (won't close until year end.)
Monthly chart is clearly showing a slowing down of momentum. This most recent trend leg up failed to match the previous in relative strength.
Weekly chart has a a lengthy history on the 200 period moving average these days and is due to revert to the mean via price or time somehow.
Daily chart, lets face it, thats not just a complex pullback thats a confirmed trend change.
Fundamentally I love blockchain assets, but with the fed looking to raise interest rates I think risk assets like these will see a decrease in people holding them in a bear market as one would expect from small cap stocks and the like.
To conclude I reiterate that I advise holding and waiting for better prices before adding to investments. that way your not out of the market if it does see more upside action, while not adding risk to your winning positions, if your trading shorter term, or in smaller cap tokens, I advise the use of proper money management/position sizing because the total market is high relative to its average true range as defined by the Keltner channels I use.
Thanks for reading, if you like what you see please follow, I'll do the same, peace & profits be with you.
Monthly chart is clearly showing a slowing down of momentum. This most recent trend leg up failed to match the previous in relative strength.
Weekly chart has a a lengthy history on the 200 period moving average these days and is due to revert to the mean via price or time somehow.
Daily chart, lets face it, thats not just a complex pullback thats a confirmed trend change.
Fundamentally I love blockchain assets, but with the fed looking to raise interest rates I think risk assets like these will see a decrease in people holding them in a bear market as one would expect from small cap stocks and the like.
To conclude I reiterate that I advise holding and waiting for better prices before adding to investments. that way your not out of the market if it does see more upside action, while not adding risk to your winning positions, if your trading shorter term, or in smaller cap tokens, I advise the use of proper money management/position sizing because the total market is high relative to its average true range as defined by the Keltner channels I use.
Thanks for reading, if you like what you see please follow, I'll do the same, peace & profits be with you.