BTCUSD appears to have more upside potential

20 nov 2023

Potential signals to watch out for.

Upside:

• Most candlesticks that broke above the cloud have higher highs and higher lows
  
• Tenkan-sen and Kijun-sen crosses upwards
  
• Chikou-span i.e. the lagging line is about to cross above the cloud
  
• No weekly bearish bars above the cloud
  

Downside:

• Last week's candle is a potential reversal signal, it's also an inside bar, therefore a breakout is required for confirmation
  
• Price is approaching a monthly resistance, be mindful a sharp reversal may occur.
  
• The Lagging line may be rejected by the top of the cloud