Good news for the cryptoworld. We found good signs for a cryptomarket recovery in the near term by applying different types of oscillators.
As an overview, the weekly oscillators show we are in an deeply oversold territory which is good because it signals opportunities to take long positions before initiate a new uptrend. This is why the so-called misery index sent a buy signal a few days ago.
Our trend indicator shows that the bearish market is gradually less and less bearish and it is right now at its lowest point. In fact, the trend indicator signals for a point about to break to a bull market.
The other indicator is the cycles indicator, which shows we are in the middle of the bearish crypto cycle and we will probably need another 1 or max 2 weeks to see a breakout and enter into a new bull cycle.
As always remember that charts hardly can predict the future with 100% accuracy.
As an overview, the weekly oscillators show we are in an deeply oversold territory which is good because it signals opportunities to take long positions before initiate a new uptrend. This is why the so-called misery index sent a buy signal a few days ago.
Our trend indicator shows that the bearish market is gradually less and less bearish and it is right now at its lowest point. In fact, the trend indicator signals for a point about to break to a bull market.
The other indicator is the cycles indicator, which shows we are in the middle of the bearish crypto cycle and we will probably need another 1 or max 2 weeks to see a breakout and enter into a new bull cycle.
As always remember that charts hardly can predict the future with 100% accuracy.