As we can see, the price is making a descending triangle.
So, what could a descending triangle mean to us?
Usually, it could be a bearish signal. As we know, the price could break down from the bottom line of the triangle, however, this time, I have not seen any strong signal yet.
The MACD had gone down for a while, however, it just made a bullish cross recently. Now, it seems to go up.
The RSI is stable and in an upward trend, although the trend slope is mild.
These bullish signals could be for the temporary movement. The price is fluctuating inside the descending triangle. So, these bullish signals could reveal the fluctuation.
Let’s wait for more signals.
So, what could a descending triangle mean to us?
Usually, it could be a bearish signal. As we know, the price could break down from the bottom line of the triangle, however, this time, I have not seen any strong signal yet.
The MACD had gone down for a while, however, it just made a bullish cross recently. Now, it seems to go up.
The RSI is stable and in an upward trend, although the trend slope is mild.
These bullish signals could be for the temporary movement. The price is fluctuating inside the descending triangle. So, these bullish signals could reveal the fluctuation.
Let’s wait for more signals.