The current situation:
1. The 4HR 200 moving average and the 3D 21 moving average are currently acting as resistance, where they are sitting at about 11.1K. On the hourly chart, it is possible that we will try to get above those moving averages again and form an ascending triangle as I am predicting. But do keep in mind that a double top is also possible, which is a bearish pattern and can play out if the several moving averages under the price action now does not hold.
2. RSI: we are not in overbought territory, but possible bearish divergence can happen on the 4HR and 6HR chart if the next attempt at 11.1K gets a lower reading on the RSI than the previous high. That should be carefully noted as it could be a catalyst for a pullback.
* These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
1. The 4HR 200 moving average and the 3D 21 moving average are currently acting as resistance, where they are sitting at about 11.1K. On the hourly chart, it is possible that we will try to get above those moving averages again and form an ascending triangle as I am predicting. But do keep in mind that a double top is also possible, which is a bearish pattern and can play out if the several moving averages under the price action now does not hold.
2. RSI: we are not in overbought territory, but possible bearish divergence can happen on the 4HR and 6HR chart if the next attempt at 11.1K gets a lower reading on the RSI than the previous high. That should be carefully noted as it could be a catalyst for a pullback.
* These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.