Hello everyone! Lets look at Mana/Usdt 1d chart. Classic reaccumulation by Wyckoff.
1. Phase A contains a lot of volatility, big spread of the bars, volume spikes (Change of Behaviour reaction), then all that characteristics decrease as we continue to walk in downward channel between supply and demand lines, that worked perfectly.
2. Then look at Higher lows on low supply signature. Sellers are exhausted and bulls are inactive anyways. There is not a lot of supply in this area. Price action is telling us that the move is quite. But we are ready for impulse. Recently we broke supply line of this channel and retested it. There could be some more testing in this area (2.2-2.6 level) but we think that down move on btc.d can make this impulse happen. Potential is big. Other observations is on the chart.
1. Phase A contains a lot of volatility, big spread of the bars, volume spikes (Change of Behaviour reaction), then all that characteristics decrease as we continue to walk in downward channel between supply and demand lines, that worked perfectly.
2. Then look at Higher lows on low supply signature. Sellers are exhausted and bulls are inactive anyways. There is not a lot of supply in this area. Price action is telling us that the move is quite. But we are ready for impulse. Recently we broke supply line of this channel and retested it. There could be some more testing in this area (2.2-2.6 level) but we think that down move on btc.d can make this impulse happen. Potential is big. Other observations is on the chart.