- The Moku cloud is still conflicted between red and green, signaling market indecision.
- The long wick to the top of the current brick shows that while we tried to rally above 40.5k, we couldn't hold it long enough to make a stand there.
- We are still under the green cloud, which means bulls are not ready yet.
- At the previous brick, we didn't manage to get above the 10 SMA, which would be another signal of an uptrend.
- Lagging indicator in the cloud, which is a no touch zone.
Note that the Renko chart is simple a trend indicator not a top/bottom finder, and it is telling us there is no clear trend yet.
- The long wick to the top of the current brick shows that while we tried to rally above 40.5k, we couldn't hold it long enough to make a stand there.
- We are still under the green cloud, which means bulls are not ready yet.
- At the previous brick, we didn't manage to get above the 10 SMA, which would be another signal of an uptrend.
- Lagging indicator in the cloud, which is a no touch zone.
Note that the Renko chart is simple a trend indicator not a top/bottom finder, and it is telling us there is no clear trend yet.