We just closed a 12 hour candle and the direction does not look bullish. For those of you that don't know the MACD it is a formal measurement of momentum. When charting Bitmex it seems that the high was made at the 4th of april together with the high of the MACD. Since then it has been bottoming out and will likely make it to negative at the next candle or two:
At the same time we are looking at falling daily (Stochastic) RSI:
Daily and 12 hour candles are for medium time frames, so who knows what happens in the short run, but I would expect that we'll go down lower and I have therefore sold a bit here. Not enough to hurt too bad if we go up, though.
What are you planning to do?
As always: Good luck to all of you and take care.
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