💥CKB Analysis - April 15, 2023:
1. The weekly frame concludes with a Doji candlestick. Nonetheless, the preceding week featured a bullish candle with notable volume, indicating a mere weakening of the current trend rather than a signal for trend reversal. It signifies market hesitancy towards buying.
2. On the daily frame, the market demonstrates a sideways trend with significant volatility (35%). At the onset of the week, prices surged to establish a new peak, while by week's end, they retreated to form a fresh low (albeit higher than the previous one). This suggests short-term investors are reacting to recent adverse news with panic.
3. MACD and RSI indicators indicate increased seller activity, accompanied by a decline in buying power and a surge in selling pressure. The buying zone is concentrated around 0.02, while the selling zone is focused at 0.03.
4. As previously noted, the 0.024 level continues to serve as robust support. Maintaining weekly candlestick closure above this level indicates an ongoing uptrend.
💥Conclusions:
1. CKB remains in an uptrend.Seller presence has intensified, reflecting a market mood characterized by panic and anticipations of price fluctuations.
2. CKB persists in holding the support level of 0.024, currently signaling positively, although further observation is warranted.
💥My Strategy:
1. Decrease buying positions, adopting a stance of observation while awaiting favorable market signals.
2. Execute sales to capitalize on profits from buying positions post-February 19, 2024, and consider repurchasing at lower levels should CKB breach the 0.024 threshold.
THIS IS NOT INVESTMENT ADVICE. DYOR
