Crypto Market Remains in a Stable Downtrend — When Bounce?
The situation has been the same for the last few days based on trade signals. We have an extremely oversold market and incredible short signals on the daily chart (see screenshot below as an example).
However, as already discussed, most short signals (parabolic trader) usually indicate the last wave of a trend and signal an upcoming reversal.
So far, none of the scenarios have played out well: neither the short signals (at least for most coins) nor a turnaround has occurred.
As a result, I remain cautious about taking trades on the daily chart since the overall direction remains unclear. It's simply a waiting game — however, in this situation, the best trade is not to trade.
