Cred (LBA) Is Doing Great Numbers, But Can Start Falling

24 apr 2019

Cred (LBABTC) has been doing great numbers on Bittrex, the chart is pretty impressive, but it might be reaching a top.

Feel free to hit like now so that we can get started, if you want to, and let's take a look at these signals together...

Cred (LBABTC) Chart Analysis

• LBABTC hit peak price (all-time high) on the 10th April, on a big green candle and high volume bar. It has continued to grow steadily but without being able to challenge again this peak.
  
  
• The MACD peaked on the 14th April, marking bearish divergence compared to LBABTC's price. The MACD moves higher while prices are moving lower.
  
  
• Trading volume has been decreasing on the last green candles, momentum is leaving the side of the bulls.
  
  
• The MACD histogram is moving in favor of the bears.
  
  
• The RSI is really strong and the price remains trading above EMA10.
  

So overall we have a very bullish chart which is starting to show early bearish signals. So there are big chances of LBABTC starting to retrace.

If LBABTC remains above EMA10 (green line), it maintains its bullish potential, but if instead LBABTC breaks and closes below EMA10, with good strength and volume, you can expect a strong retrace to happen that can push the price down to EMA50 at the least or lower.

This analysis is shared exclusively for my Trading View readers, followers, and amazing supporters and is intended for learning and entertainment purposes.

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This is Alan Masters.

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