Accumulation occurred just above where it was prior to the rally to the ATH. I expect the ICE to be retested where price failed to hold, which is the first target around $3.74.
Second target is approximately at the range high.
Alts perking up. Dominance continues to trend down with BTC consolidating in what appears to be a reaccumulation pattern under the distribution range (50-65k). If BTC can manage to stay in this bullish range or break above, we should see many alts run and outperform it.
complex reaccumulation structure. I'm not overly concerned with the labeling early in the range, as I'm really only interested in the later part of the range.
If this is a terminal shakeout, we should have a trend within this range and breakout to a new ATH. Looking to hold this to $10+.
Great study to show Distribution and (re)Accumulation with respective volume signatures.
UA=Upthrust Action (accumulative)
PSY= Preliminary Supply
LPSY=Last Point of Supply
LPS= Last Point of Support
mSOS= minor Show of Strength
Everybody's favorite has bullish divergence forming right above accumulation range high.
In Wyckoffian terms this is a Show of Strength (SOS), which we typically see before significant markup.
Accumulation range has been building for almost 2 years, and we see many analogs that show this yields huge upside. (ZEN, MTL, ADA, etc.)
Trade the RHS (Right hand side):
Bottom buyers have to wait for the whole accumulation process where price just goes sideways and does nothing. This is lot of time to have capital tied up when it could be working for you.