On the Daily, the pairs grind to the upside is still going on, but we have signs of exhaustion:
- Bearish RSI divergence
- Price is inside a channel with a shallow slope (ending diagonal)
This leads me to consider we are close to finishing blue 5 of black 5, and can expect a correction soon.
Ideally, I'd wait for a lower low / lower high and break of the bottom of the channel.
Initial targets are the 2 purple levels shown in the chart.
- Bearish RSI divergence
- Price is inside a channel with a shallow slope (ending diagonal)
This leads me to consider we are close to finishing blue 5 of black 5, and can expect a correction soon.
Ideally, I'd wait for a lower low / lower high and break of the bottom of the channel.
Initial targets are the 2 purple levels shown in the chart.
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📈 Experienced Crypto trader
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🧠 Trading psychology hacks
🎖️ Premium VIP Discord Server ($4.99/mth for a limited time - check link below)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.