The market looks volatile from the charts. Here are the main points:
1. 1D Chart (daily):
Price is below EMA (7) and EMA (25), which usually signals a downtrend.
Recent candles are pointing to a decline, which may be a sign of bearish sentiment.
Trading volume is declining, which may indicate a lack of momentum.
2. 4H Chart (4-hour):
There is a decline from levels 1.6+.
EMA (7) crosses EMA (25) from top to bottom, which is a bearish signal.
There are many “S” (sell) on the chart, which may indicate profit-taking or selling by traders.
Going long in the current situation may be risky, as the trend is predominantly downward.
It is better to wait for confirmation of the reversal: for example, the EMA (7) and EMA (25) crossing upwards or the formation of a strong support level (for example, around 1.43).
Pay attention to the volume: if the volume starts to increase on green candles, it may be a signal for a reversal.$THE
1. 1D Chart (daily):
Price is below EMA (7) and EMA (25), which usually signals a downtrend.
Recent candles are pointing to a decline, which may be a sign of bearish sentiment.
Trading volume is declining, which may indicate a lack of momentum.
2. 4H Chart (4-hour):
There is a decline from levels 1.6+.
EMA (7) crosses EMA (25) from top to bottom, which is a bearish signal.
There are many “S” (sell) on the chart, which may indicate profit-taking or selling by traders.
Going long in the current situation may be risky, as the trend is predominantly downward.
It is better to wait for confirmation of the reversal: for example, the EMA (7) and EMA (25) crossing upwards or the formation of a strong support level (for example, around 1.43).
Pay attention to the volume: if the volume starts to increase on green candles, it may be a signal for a reversal.$THE
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