A typical mixed-stage setup signaling an equilibrium between bears and bulls
Fundamentals and price action are clearly bearish while major techs are pretty much neutral.
We switched from a very bullish outlook to a neutral one after this week price behavior.
We might expect that bulls will try to defend this price action support to eventually break the descending trendline although if they fail further bigger losses might be expected.
While inside this descending channel bears are in control as long as 1 Hour MACD is below 0 or price is below MA50 or MA100, else, could mean the chance for bulls to take action.
Trade safe!
Alberto Alvarado
Ask me! | https://earn.com/iiivb/
Fundamentals and price action are clearly bearish while major techs are pretty much neutral.
We switched from a very bullish outlook to a neutral one after this week price behavior.
We might expect that bulls will try to defend this price action support to eventually break the descending trendline although if they fail further bigger losses might be expected.
While inside this descending channel bears are in control as long as 1 Hour MACD is below 0 or price is below MA50 or MA100, else, could mean the chance for bulls to take action.
Trade safe!
Alberto Alvarado
Ask me! | https://earn.com/iiivb/