The 7-day streak of price increases came to a halt following a decrease yesterday. However, it's worth noting that yesterday's downward movement, represented by the D1 bar, exhibited a narrow range and a minimal lower shadow, indicating that the selling pressure lacked significant strength.
Moreover, there are ongoing signs of excess, particularly in the form of overbuying. This marks the third consecutive day in which BTCUSD has remained in an overbought state. When an asset is overbought, it tends to be more prone to a downward correction rather than a continued upward trend.
Although the BTCUSDT chart structure supports an overall uptrend on this timeframe, it would be prudent to await a corrective downward move before considering a buying opportunity.