Materials sector had a big run five weeks ago and and is
in bearish territory for past five weeks.
Momentum is building to the downside with the RSI
in bearish territory and falling and the MACD negative and crossing down.
All three of the trend indicators are
in bearish territory.
Also, the true fundamentals have spent more time
in bearish territory than bullish territory since the second half of last September.
Not exact matches
Despite an air of positivity, this same analyst is predicting that bitcoin may once again enter
bearish territory in the coming weeks:
Even so, we are still
in neutral
territory on sentiment and we are coming off one of the most
bearish two - year periods
in history.
WTI Crude oil, meanwhile, has slipped down to near key make - or - break
territory after Thursday's
bearish DOE stats, and will need to rally quickly to avoid undercutting this six - month uptrend line which has been
in place since January.
The relative strength index (RSI) has also rolled over into the
bearish territory (below 50.00), indicating scope for a further decline
in BCH's BTC - denominated exchange rate.
Another week finishing
in negative
territory, as the crypto market wide
bearish trend continues.
Despite an air of positivity, this same analyst is predicting that bitcoin may once again enter
bearish territory in the coming weeks: