Looks like we're in a Phase D of the Wyckoff Accumulation Pattern. Looking for price to break above $11, with a retest back down, but not lower than $6-7 Range.
A clean break and hold above $11 will likely confirm Phase E (full markup cycle).
If price pulls back toward ~$6–7 with low volume, it may be a final LPS to load up. Well that's my Plan.
Watch RSI and OBV — if momentum continues to trend up while price holds above MAs, this Phase D will likely play out cleanly.
A clean break and hold above $11 will likely confirm Phase E (full markup cycle).
If price pulls back toward ~$6–7 with low volume, it may be a final LPS to load up. Well that's my Plan.
Watch RSI and OBV — if momentum continues to trend up while price holds above MAs, this Phase D will likely play out cleanly.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.