On a 2H chart, the index has had a 125% trend up since October averaging 25% per month but
accelerating. I wanted to see if there are any signs of an impeding correction given the
uptrend's duration. The past week added about 10% which seems unsustainable. The RSI is
not yet in high overvalued /bought territory but is on the approach. The predictive algo
indicators may suggest some upside but when zooming in the trendlines are relatively flat.
The candlesticks are showing prominent topping wicks. The Bollinger bands show a
" upper band march" after the run up of the past week.
Overall, at least for the immediate to intermediate term, I see no upside for this index.
As applied to my trading, I will take no new long positions of BTC and ETH. I will consider
taking partial profits at the highs of the upcoming several days at 10% each time. At some point
when a reversal is more definitive I may take short positions in them.
accelerating. I wanted to see if there are any signs of an impeding correction given the
uptrend's duration. The past week added about 10% which seems unsustainable. The RSI is
not yet in high overvalued /bought territory but is on the approach. The predictive algo
indicators may suggest some upside but when zooming in the trendlines are relatively flat.
The candlesticks are showing prominent topping wicks. The Bollinger bands show a
" upper band march" after the run up of the past week.
Overall, at least for the immediate to intermediate term, I see no upside for this index.
As applied to my trading, I will take no new long positions of BTC and ETH. I will consider
taking partial profits at the highs of the upcoming several days at 10% each time. At some point
when a reversal is more definitive I may take short positions in them.
交易進行
Crypto index is sideways awaiting further accumulation vis distribution before a move.註釋
The crypto index has returned to bullish momentum.
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。