Crypto News360

08/16 04:33

Traders’ call to action – Wait to buy

Traders’ call to action – Wait to buy At press time, the 4-hour timeframe’s technical indicators were firmly bearish. The OBV has been in decline over the last eight days, with the MACD well below the zero line to show sustained bearish momentum. The DMI also showed a strong downtrend in progress, with both the ADX (yellow) and the -DI (red) above 20. And yet, as the structure revealed, this downtrend on the 4-hour timeframe might only be a retracement phase. Therefore, swing traders can wait for the key Fibonacci retracement levels to be tested. An uptick in trading volume and buying pressure would tell swing traders that the retracement phase is ending. This would look like a turnaround in the OBV and aforementioned average trading volumes. Like when we saw Cardano trending higher towards $0.211 near the end of July.#HTX Creation Challenge — Post and Win 1,500U #HTX 13th-Anniversary Carnival #HTX Refer And Earn

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