The Stochastic Cycle Indicator Says We're Here

Jun 1, 2021

I'm waiting to see what happens at 2pm and 8pm.
We have not started the intraday bearish cycle yet.
Morning action looks indecisive.

Jun 1, 2021

Note

Here is the 12-Hour version of the Cycle Indicator. I posted the 6-Hour version above.

Note that the data points are crowded. 3 days fit close together.

The usual suspects on Crypto YouTube are saying that we had a bullish 1-Day MACD crossover.

However, the 12-Hour Cycle Indicator shows that a relief rally is likely to be messy.

We're too high on the Cycle chart. Note that the descent will take many days due to the crowded data points.

We can also descend and then reverse back up again.

Crypto YouTube is smug! They don't know how to make strong TA confirmations.

The best Risk/Reward opportunity [Long] we had to profit from a relief rally was on May 29th.

https://www.tradingview.com/x/3aobUJnW/