Here is a brief analysis of a short trade (don't forget to follow me 〽️🐳🚨)
1. Bollinger Bands (BOLL):
• The price is moving near the lower band, indicating a possible bullish bounce.
2. Moving Averages (MA):
• The moving average 5 (MA5) is above the moving average 10 (MA10), but the overall trend is somewhat horizontal, indicating market indecision.
3. MACD:
• A negative crossover is appearing, which means there is potential selling pressure, but there is a slope towards recovery.
4. Volume:
• There has been an increase in trading volume in recent days, which may indicate increased interest in the market at this level.
• If you are looking to enter a quick trade, waiting for a bullish bounce from support levels (near 61,864) may be a good opportunity.
• However, if the market continues to weaken according to MACD and recent trades, it may be wise to wait.
