Today I'm publishing several charts with a similar idea. Particularly focusing on levels to watch for these coins if they break down. If the bearish idea is invalidated, all of these charts will be invalidated. What is that invalidation?
As long as 3D MACD stays red, I expect high timeframe bearishness to reign supreme. Daily MACD could flip positive and the idea remain valid. I would then be looking for it to flip back negative to re-enter shorts.
Despite the stock markets bouncing a bit recently, the economy still suffers from devastating impacts of COVID-19 and the shut down of businesses internationally. The likelihood of bearish trend continuation seems most likely.
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If the 4H MACD goes positive, we could see one more push up. We would then be watching for 4H to flip back red for shorts.