Look at the 8 purple balloons that I have circled. Notice each succeeding upmove is evidenced by a pattern, i.e.. 1-2 green candles closing higher than the previous red candles. Sometimes, it is obvious, others less conspicuous. Nevertheless, like a caterpillar, it follows the trail of the 21EMA rather than taking on a straight linear path like the black line.
Would there be a 9th purple balloon or will it break down? We shall see
Good luck to all