After a prolonged correction, this asset has entered an accumulation phase. The internal structure of the range indicates buyer dominance. This is evidenced by strong absorption of market sells (as shown by cumulative delta) and volume distribution.
We're considering a long entry either on a test of the POC-$42 (Point of Control — area of highest volume concentration), or on a false breakout below the $39 low.
Upside potential: $50
This publication is not financial advice.
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Unlock your potential in trading
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.