more details about my previous chart.
fibo extensions show the possible targets before another fall.
now let's look at RSI. lower window. yellow - current timeframe; blue - h4. what i see is an extreme OB level of rsi, but also suggesting a retrace. it looks like coming down from 75 to 60 (where i expect a support). see yellow arrow.
h4 rsi is hanging around 60 level (blue arrow) - this means resistance on h4 chart.
long story short: this bull run is running out of steam. slowly, but surely.
fibo extensions show the possible targets before another fall.
now let's look at RSI. lower window. yellow - current timeframe; blue - h4. what i see is an extreme OB level of rsi, but also suggesting a retrace. it looks like coming down from 75 to 60 (where i expect a support). see yellow arrow.
h4 rsi is hanging around 60 level (blue arrow) - this means resistance on h4 chart.
long story short: this bull run is running out of steam. slowly, but surely.
Nihil Sine Deo.