Bears In Control?
It has been a while since the number of bearish trade signals on the daily chart outperformed the bullish like this.
Based on the latest daily candle close, 48 bearish trade signals have been generated — compared to only 7 bullish.
Certainly, trade signals can be wrong, and the crypto market can flip at any second. However, at the moment, it looks like we will see some more bearish price actions.
We will examine the overall RSI later in the day to determine whether we are close to a reversal or just witnessing the last dip before a (short) relief rally starts.
Stay safe and happy trading!
