These can some times be from pump and dump signal groups that have plagued the crypto space from various influencers but some times it can be large orders being placed at accumulation phases when there is less orders in the book, some what of a test of supply liquidity if you will.
A large pump followed by a slow bleed as the asset can not sustain the move with organic and it returns back to a medium but with steady growth in an uptrend due to a large amount of sellers just been exited from the market.
again a second test which has moved higher and the uptrend still continuing, this can paint the picture of a turning point in the market.
we are now on entries off trend and waiting for a bush moving higher to around the 2000 mark at that next minor resistance line with a higher target of 2500 if we start to get some serious traction with a big increase on this break out over the 1300 mark.
Its important to understand other styles of trading and how they react to the technicals, a lot of traders in crypto are scalpers and one of the main trading strategies of scalpers is break out trading, not confident enough in the market or TA to make serious educated predictions so rather wait for the market to move and then jump onto the coat tails and ride the movement.
Although its a profitable style and waiting for that confirmation can be beneficial it generally moves you getting onto the trade to late and exiting to early as they arnt seeing the bigger picture or reading the market as a whole.
The next pump off trend could push us out of this and see buying increase, we already know there isnt a whole lot of sellers above so it should be fairly easy to push past these levels to our targets in mind.
Its a moon shot but hey some times you got to take risks.
smaller time frames showing a bit of bullish activity as we broke a small pennant being held at out entry.
This is one of those coins likely to just spring a big green candle rather than build structure all the way.