🐳 Death cross on the $ICNT 4-hour chart. A couple of thoughts from the perspective of someone holding a position:
The bullish momentum histogram has continued for 29 consecutive 4-hour candles, which means buyers have been in control throughout this period. Chasing the rally now clearly means you’re playing catch-up. After a sustained rise, quite a few positions are sitting on unrealized gains, so keep an eye on whether big players start taking profits in batches.
How are you planning to trade?
The bullish momentum histogram has continued for 29 consecutive 4-hour candles, which means buyers have been in control throughout this period. Chasing the rally now clearly means you’re playing catch-up. After a sustained rise, quite a few positions are sitting on unrealized gains, so keep an eye on whether big players start taking profits in batches.
How are you planning to trade?