Fartcoin - it is a bit deflated
I was anticipating the price to continue to move up higher when it broke above the previous month high. However, I need to acknowledge that the daily RSI is showing a clear negative divergence. 4H MACD is also starting to dive into bear territory. RSI and Stochastic also are pointing downwards. The candle closed below 1.2932 zone (strong resistance/support level) and the recent 4h candle closed below the buy block.
It is still too early to conclude it is the start of the bear trend. The price is still travelling along the ascending trendline. I will wait to see what the price will do around $0.95 area where Fib 0.786 meets the trendline.
I intend to hold the tokens for this bull cycle. I won't be considering to sell the tokens or open a short position. I will just wait for an opportunity for re-entry. The blue rectangular area in chart might be the area of interest for re-entry. The most important condition for me personally is that I won't go long when MACD in 4H (time frame I am trading in) and Stochastic in Daily (time frame I get a confirmation from) are not moving upwards. The angles of these momentum indicators are very important in my experience.
It is still too early to conclude it is the start of the bear trend. The price is still travelling along the ascending trendline. I will wait to see what the price will do around $0.95 area where Fib 0.786 meets the trendline.
I intend to hold the tokens for this bull cycle. I won't be considering to sell the tokens or open a short position. I will just wait for an opportunity for re-entry. The blue rectangular area in chart might be the area of interest for re-entry. The most important condition for me personally is that I won't go long when MACD in 4H (time frame I am trading in) and Stochastic in Daily (time frame I get a confirmation from) are not moving upwards. The angles of these momentum indicators are very important in my experience.
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