If you want to be bearish in this bull market, you should have reasons for that. Let me help you support your position by providing bearish signals one by one.
And if the market is a double peak? This chart template belongs to a group of reversal models and it can confirm a trend reversal or correction as a "light version".
The double top will be confirmed if the prize can break down the local swing. For this, the price will have to break the support level of 5000.00.
Other bearish signals are provided by the MACD lines and the histogram. This indicator supports downward movement.
RSI is not far from the overbought area. The abandoned line of the area, up and probably soon, we will see a new fall from 70.
DMI is optimistic and confirms the current market conditions but ... The ADX line is at level 50 and moves sideways. This will probably trigger a downward movement and support the idea of the correction movement.
All of these signals can help you if you want to see the market go down.
At the same time, you must understand that this possible reversal of trend or correction movement concerns only the medium term. In the long term, the market remains bullish and if fundamental news supports encryption, the uptrend will be stronger and more reliable.
And what do you think about market movements in the medium term? Do you expect the correction, the reversal of trend or do you want to see the bullish movement at resistance 6000.00?
