In the graph I have drawn and described the lines describing price and volume trends and their relationship to understand what's going on.
First thing I noticed the peak of volume happens in the mid of the leg down, and went to 0 meaning sell pressure gone and after that a correction to 1300 happened.
Right now the price is consolidating at 1250, but by the small trends being created by PA and volume we can see how the correction behaved similarly to the dump that caused it.
After that, small area of indecision I have highlighted with a cyan circle.
Now the latest thing to notice is price making lower highs and lows, with the volume beginning to increase again + I have glighlighted in red a confirmation by volume and price and their trends, I have explained in graph.
We're in for a second drop soon.
First thing I noticed the peak of volume happens in the mid of the leg down, and went to 0 meaning sell pressure gone and after that a correction to 1300 happened.
Right now the price is consolidating at 1250, but by the small trends being created by PA and volume we can see how the correction behaved similarly to the dump that caused it.
After that, small area of indecision I have highlighted with a cyan circle.
Now the latest thing to notice is price making lower highs and lows, with the volume beginning to increase again + I have glighlighted in red a confirmation by volume and price and their trends, I have explained in graph.
We're in for a second drop soon.