dancingdunza

ADAUSD bottom almost in

KRAKEN:ADAUSD   Cardano
CCI is a momentum oscillator can be used to identify oversold/overbought and trend reversals. When the indicator reaches relative extreme level it becomes oversold or overbought, in this case, ADAUSD is overbought. Trend changes can be identified when CCI crosses a specific threshold between zero and 100. Historically, every time when the CCI indicator was below -100 line then crossed signalled a reversal in the downtrend and resulted in the next uptrend run. In this case on the 2W time chart, the CCI is touching the -100 and still in a downtrend so I would expect the CCI to continue below -100. A bullish signal would be once the CCI crosses back up above -100 to indicate the end of the downtrend and a momentum shift. Bottom is close.

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