What we are seeing now is the completion of the consolidation process. This has happened more than once - a rapid rise, or landslide falls end in a rising wedge. Similar situations are indicated on the graph. Now, pay attention to something else. Falls are supported by an increase in volume, while at the same time, this does not happen during a rise. In addition, note that the price has reached the maximum correction level and, at the same time, is close to the trend line.
One point you’re not seeing is the evidence of accumulation. Notice the volume spikes are at support levels and the lowest volume is at resistance. A long signal is actually stronger when volume trend decreases across a range and volatility increases across a range. The current price action is a sign of strength, high likelihood of mark up toward new highs in the months come. You have some good insights but the hints I’m pointing out are subtle and perhaps counter intuitive to those not trained to see them. Keep up the great work!
mommymiles
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@JabezDolz, thank you for you insight of accumulation. I know understand it more.
JabezDolz
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One more thing to point out. The volume won’t increase on the rises in a bullish setup because the big money isn’t buying on the rise, they already bought the lows preceding the rises. Think of it as testing demand while establishing support..
akatsiya
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simple and elegant. check out volume trends indicator by imbes2 rediska ploxoi 4elovek