Here is another analysis of the btcusd:
- as u can see we remain bullish as the price is still above the cloud, but now we are in consolidation mode (inside candels) ;
- the RSI warned us about the pullback with the bearish divergence.
so now we wait for breakout of the red rectangle with first target as the last high and more if we break it.
I want to highlight how magically the weekly ks (grey line) worked as support in different cases.
- as u can see we remain bullish as the price is still above the cloud, but now we are in consolidation mode (inside candels) ;
- the RSI warned us about the pullback with the bearish divergence.
so now we wait for breakout of the red rectangle with first target as the last high and more if we break it.
I want to highlight how magically the weekly ks (grey line) worked as support in different cases.