Huge engulfing candle from the oversold threshold just above the 0.786 alt-coin golden pocket.
The trend remains down despite this candle with no bullish market structure yet. The weekly 200EMA is finally turning down. Until we get above the descending trend-line, the probability is lower. The 5-wave structure down hints at no new all-time high, as this is a motif wave.
🎯 Terminal target for the business cycle could see prices as high $1.2 when momentum returns
📈 Weekly RSI tapped oversold with no divergence and can remain here for months
👉 Analysis is invalidated above the weekly pivot
Safe trading
The trend remains down despite this candle with no bullish market structure yet. The weekly 200EMA is finally turning down. Until we get above the descending trend-line, the probability is lower. The 5-wave structure down hints at no new all-time high, as this is a motif wave.
🎯 Terminal target for the business cycle could see prices as high $1.2 when momentum returns
📈 Weekly RSI tapped oversold with no divergence and can remain here for months
👉 Analysis is invalidated above the weekly pivot
Safe trading
PhD Cand: Investing & Sentiment , MSc Financial Econ
Trader 8 years, Investor 15 years
The Sentiment Investor - Market Psychology: thesentimentinvestor.substack.com
Trade Planning, Strategies & Signals: Earn & Learn: tradesignals.substack.com
Trader 8 years, Investor 15 years
The Sentiment Investor - Market Psychology: thesentimentinvestor.substack.com
Trade Planning, Strategies & Signals: Earn & Learn: tradesignals.substack.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
PhD Cand: Investing & Sentiment , MSc Financial Econ
Trader 8 years, Investor 15 years
The Sentiment Investor - Market Psychology: thesentimentinvestor.substack.com
Trade Planning, Strategies & Signals: Earn & Learn: tradesignals.substack.com
Trader 8 years, Investor 15 years
The Sentiment Investor - Market Psychology: thesentimentinvestor.substack.com
Trade Planning, Strategies & Signals: Earn & Learn: tradesignals.substack.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.