/biz/ - Business & Finance

Morning frens, my memelines were kinda confirmed overnight.
We're truly in a consolidation period on the 1H chart. Wasn't expecting red candles so big but it stayed within the fib retracement (.52-.57). RSI is finally going down to oversold territory. That's a positive.
The 4H chart is not as good looking as I hoped it would be. The last 2 candles are pretty weak and not very bullish. It kinda killed the momentum of the RSI that was rising. But I guess that make sense with the consolidation happening on the 1H. At the same time, the channel I drew yesterday seems to make sense so far, we'll need to see if it holds during the day.
Overall I'm still confident the price will start rising soonish once we're past the consolidation period on the 1H chart.