Short-Term Outlook: Bearish đš
This is how it looks when the market turns bearish. More than 60 tokens printed a bearish MACD crossover on the daily chart (ETH, DOGE, TON, ADA, and many more). I think we will have the same amount (or more) when today's candle closes.
Contrary to many market observers, I don't think the bottom is in yet. Actually, it is more than likely that we will visit the low 50s in the short term. Here's why:
* The bullish chart setup was invalidated for many tokens
* Middle East tension likely to grow and spread more uncertainty
* Many technical indicators, such as the MACD or VMA, have turned bearish.
This doesn't change the long-term outlook, which remains bullish. However, it looks like we have to go lower before coming back even stronger.
