The cryptocurrency NOT has been on an upward trend, but recent price action and technical indicators suggest a potential correction.
Why is NOT showing weakness?
* Bearish Divergence: The price has made higher highs, but the momentum indicator (RSI) has failed to make a higher high, indicating a divergence between price and momentum. This divergence often signals a potential price reversal.
* Wave Analysis: The price structure suggests that the 5th upward wave has completed, and a corrective move is likely.
What should you do?
If you're holding NOT, consider taking some profits or securing your position with a stop-loss order. Traders may also look to short NOT with a tight stop-loss to capitalize on a potential downward move.
Here are some additional factors to consider:
* Market Sentiment: The overall market sentiment for cryptocurrencies can impact the price of NOT.
* Technical Analysis: Other technical indicators, such as the MACD, can provide additional insights into the market's direction.
Ultimately, the decision of whether to buy, sell, or hold NOT is up to you. It's important to do your own research and consider your risk tolerance before making any investment decisions.
What do you think about the NOT chart? Do you agree with the bearish outlook? Share your thoughts in the comments below!