#BinanceAlphaAlert

$AUCTION

Bullish or Bearish?

The overall trend appears bullish but showing signs of a possible pullback. Here’s why:

Bullish Signals:

1. Uptrend in Price: The price has been making higher highs, reaching $68.31 before pulling back.

2. EMA Support: Price is still above EMA(7) and EMA(25) in all timeframes (2h, 4h, 8h), showing a strong trend.

3. Strong Volume: Increased volume during the uptrend confirms buyer interest.

4. MACD & DIF Above Zero: Momentum is still in favor of buyers.

Bearish Signals (Short-term Correction):

1. Overbought RSI (8h Chart): RSI is above 80, indicating overbought conditions and a possible correction.

2. Bollinger Band Rejection: Price hit the upper Bollinger Band and is now retracing.

3. Long Wick on Recent Candles: Suggests profit-taking and selling pressure.

Conclusion:

Short-term: Possible pullback to $55-$53 before another move up.

Mid-term: Still bullish if it holds above EMA(7) and EMA(25).

Long-term: If it breaks above $68.31, the next target could be $75-$80.

If you're in a long position, you might want to secure profits or wait for a dip to re-enter. If you're shorting, watch for confirmation before entering.