Market is Overheated
Hello traders
Right now, BTC is 7965$ and heading downward in weekly timeframe as MACD histogram is sloping down. Also, ADX is crossing over DI+ to be placed above both DI lines which means the market is overheated and the trend is ready to be stumbled. However, in daily time frame, the story is different where bulls are dominating the market and starting to buy from the below reference line. The best strategy is shorting when RSI line enters the over-bought zone and start to decline down along with stochastic line start angling down from upper reference line. Do not go long when the weekly trend slopping down wait for shorting opportunity as stated above.
Right now, BTC is 7965$ and heading downward in weekly timeframe as MACD histogram is sloping down. Also, ADX is crossing over DI+ to be placed above both DI lines which means the market is overheated and the trend is ready to be stumbled. However, in daily time frame, the story is different where bulls are dominating the market and starting to buy from the below reference line. The best strategy is shorting when RSI line enters the over-bought zone and start to decline down along with stochastic line start angling down from upper reference line. Do not go long when the weekly trend slopping down wait for shorting opportunity as stated above.
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