Crypto.com Coin (CRO) - overbought

On the above 4-day dollar chart a ‘great sell’ alert prints following a 1500% appreciation in price action from the ‘incredible buy’ signal. Look left, those signals on this time scale are typically followed by significant corrections. 50 and 70% at last signal, respectively. Latterly on the 1-day CRO / BTC chart (below) a ‘incredible sell’ signal prints.

Surprisingly many many tradingview.com ideas are currently ‘long’, don’t be herd.

Is it possible price action continues to move higher? Sure.

Is it probable? Very unlikely.

Good luck!

WW

Don’t be shy, you can use the tip addresses, they really do work.

1-day CRO / BTC chart

Handel aktiv

Kommentera:

The sell signal was confirmed, now down 35%. Look for support around 30 cents (the orange line).

Trade stängt manuellt

Kommentera:

Some folks asking me if it is safe to go long again. No is the short answer.

Yes, there's a 'great buy' signal, but I don't think it will amount to anything more than a relief rally to the 50-day SMA, currently around 54 cents . The head and shoulders pattern remains in play with a 28-30 cent target.

The trend is printing lower highs lower lows, you can't go long into that.

Be patient.

Trade stängt manuellt