Looks like btcusd is getting stuck inside a consolidation period W top formation. Although Thursday didn't quite close fully engulfing Wednesday, i'm still considering it as fully engulfing. (To be honest i think if price runs over then entire candle and closes above the 50%, is enough to be considered as one.) Therefor bulls have a new line of defense to look after. I reckon its going to be a slow grind upwards until it breaks out then we'll see some volatility again. But if the bulls are conquered, we can sell a pullback and shoot down for further targets.
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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.