1h chart has already produced 3 MACD
dead cross, 1 wave usually have 3 to 5. Current support is highlighted by the red dash line. 1st target will be RSI
(14) 50 level. As this is a downtrend, even if it manages to break above RSI
50, my target to take profit will be RSI
does not have much room left for maneuver and there is a high chance the MACD gold
cross will be higher than the previous one. The point to start worrying again will be when MACD
goes above zero.
Let's see how this pans out tonight.