This is one of the clearest reversal patterns I've encountered so far in any altcoin. Allow me to explain.
First, we were not able to make new all-time lows. This is very significant. It shows the market refusing to even test that price level. Secondly, there was a spring capitulation candle that broke a previous range (doji candles in succession) to the downside. What is critical above this capitulation candle is the volume. Notice the ridiculously low volume, indicating there are very few people willing to sell below this price level.
Really interested in seeing this one play out.
First, we were not able to make new all-time lows. This is very significant. It shows the market refusing to even test that price level. Secondly, there was a spring capitulation candle that broke a previous range (doji candles in succession) to the downside. What is critical above this capitulation candle is the volume. Notice the ridiculously low volume, indicating there are very few people willing to sell below this price level.
Really interested in seeing this one play out.