【BTCJPY】Continued 3 bullish candles after forming a lower wick
In the post dated August 16, titled "[BTCJPY] Losing direction around 700,000 yen," I explained that the focus is now not just around 700,000 yen but a range with the upper limit around 750,000 yen and the lower limit around 650,000 yen. In reality, on the 15th, 16th, and 17th, there were three bullish days in a row, suggesting a move to test the upper end of the range. Technically, after a divergence occurs, a lower shadow red candlestick appears, which seems to indicate a bottoming out of the decline (or a corrective wave). The area around 740,000–750,000 yen is an important level because it extends from the neckline of the previous inverse head and shoulders, so I would like to watch whether there is any move that breaks through this level.