As we are closing in to key resistance area we can see that we are getting a lot of smaller bodied 4H candlesticks. This is indicating a weak buy side and that we are looking to top out!
We also got overbought on the hourly RSI and the MACD has flipped bearish
Combining a crocodile tooth shaped formation taking form on the 15min, a rejection from the downward sloping trend line (third rejection indicates strong trend line) and that we are looking to reverse at key resistance. I entered a 100x short at 106375.
As I am writing we also got in another confirmation on the hourly timeframe. As we can see we got a nice bearish engulfing candlestick.
I think the chart speak for itself. We are about to go down big time!
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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.