This is too much Accumulation to be honst.
This is so great to see the 40$ support act as a strong barrier in front of sellers and it's wreaking their momentum after all the supply "sellers" will be done from selling which is so soon as we can see throw the volume and momentum the price will explode and as you know too much accumulation = the higher the price it could reach (all of that is related to market fundamentals "the supply and the demand)
from technical view:
we can see Bollinger band width is getting tight which also mean there is upcoming move "either up or down" but with having so many factors beside it it's gonna be up.
and it case of patterns we can see the triangle shape is getting formed and it's showing up the potential end of the accumulation.
from technical view:
we can see Bollinger band width is getting tight which also mean there is upcoming move "either up or down" but with having so many factors beside it it's gonna be up.
and it case of patterns we can see the triangle shape is getting formed and it's showing up the potential end of the accumulation.
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.