HAS THE MOMENT OF TRUTH ARRIVED FOR THE BULLS ?
Dear Reader,
I do not have a crystal ball and cannot predict the future with any certainty. However, I would like to present a possible outcome for your consideration!
The chart shows that:
1. We appear to have a squeeze at the top of a rising wedge, from where the price will break downwards relatively soon.
2. Divergence is present on the MACD & RSI indicators, which are powerful precursors for directional change.
3. The "Silly Willy" indicator shows ready for a sharp price decline.
Let's see how it plays out ... Happy trading !
I do not have a crystal ball and cannot predict the future with any certainty. However, I would like to present a possible outcome for your consideration!
The chart shows that:
1. We appear to have a squeeze at the top of a rising wedge, from where the price will break downwards relatively soon.
2. Divergence is present on the MACD & RSI indicators, which are powerful precursors for directional change.
3. The "Silly Willy" indicator shows ready for a sharp price decline.
Let's see how it plays out ... Happy trading !
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New evidence found. Will keep posting as more turns up.
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Please see my longer term idea:
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Please see this idea to track short and long positions, which signals trend direction:
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Support for my suggestion that we might be starting a descending wave:
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I've dug a bit deeper, trying to identify price targets for the move downwards. We could see a possible head and shoulders scenario playing out.