I like to see these kind of consolidations formed around a significant weekly level(purple). The big move up made on the 6th tells me that buyers are liekly to come in again once price gets down to this level, alarm is set, just waiting for price to make its move now and decide to trade it or not.
Note
Right idea once again, price just didn't want to go down to a level I felt a long would get value
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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.