We can see clear Selling Climax, and Buying Climax.
During accumulation phases, we also have Selling Climax close to the bottom, and this is what confuses people.
They also confuse the Secondary Test (ST) with a Spring.
We have a very clear difference in immediate upthrust price action along with low volume. Most of the volume seems to be in high points and Shorts getting liquidated, acting as buy orders. Also retail FOMO. There was poor volume at base except for at the Selling Climax, which can be prevalent in both Redistribution and Accumulation.
We do not have to have an Automatic Reaction (AR) or Upthrust to the Last Point of Supply. It can just dump here but VERY LIKELY the top is in at 27.4k.
During accumulation phases, we also have Selling Climax close to the bottom, and this is what confuses people.
They also confuse the Secondary Test (ST) with a Spring.
We have a very clear difference in immediate upthrust price action along with low volume. Most of the volume seems to be in high points and Shorts getting liquidated, acting as buy orders. Also retail FOMO. There was poor volume at base except for at the Selling Climax, which can be prevalent in both Redistribution and Accumulation.
We do not have to have an Automatic Reaction (AR) or Upthrust to the Last Point of Supply. It can just dump here but VERY LIKELY the top is in at 27.4k.
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So it looks like we had our AR to UT/ST
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The above situation made many traders like me think the above was the case, however we have retested our First Point of Supply at 30.8k
A break from there is bullish, a drop is bearish. It's quite a crucial moment.
However, it still seems likely that this is Redistribution PA, considering the ETH chart as well as Altcoins
A break from there is bullish, a drop is bearish. It's quite a crucial moment.
However, it still seems likely that this is Redistribution PA, considering the ETH chart as well as Altcoins
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More examples:
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Another example of Redistribution
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Zoomed out snapshot of above
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More
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Well here we are. It's still happening!
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and again
The Price Action was corrective, so it was likely at that point we were in the "Test" stage in Phase C.