We had a nice run and it broke out of the steep red downtrendchannel but we didn't stay above it because of the bearish divergence and we have now fallen back into the downtrendchannel.
in the 4 hour chart you can see that the MACD is is pointing downwards and if it crosses it we might fall down to the blue bottom support trendline
If we manage to stay above the EMA we wi'll definitely break out of the red downtrend channel and move to the broader blue downtrendchannel.
until then watch you're EMA and MACD and RSI.
the daily MACD shows a very bullish move and we are crossing the Signal line but remember, we are still very far below the 0 line. Unless the orange signal line doesn't point upwards, we're still going down and are in for possible retests for support. This weekend will show, if we move back to the blue trendchannel or stay in the red trend channel to retest the bottom blue trendline.
These will be our next trading signals.
Either the 4 hour MACD crosses and we go down for the blue trendline where you should buy.
If we break out of the red downtrendchannel, and the daily MACD signal line points upwards we might retest the blue downtrend and break out of it.
good luck trading.
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We're out of the red steep downtrend bust still in the greater blue one. we will probably trade sidewerds for quite some time. Volumes are getting lower and lower. so there might be strong volatility next week
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I'm calling it now.
I think the volatility will be selloff
I think the volatility will be selloff