LUNCUSDT just finished the bottom bounce Launch TimeLUNCUSDT just finished the bottom bounce. Typically a move from distribution into accumulation looks like a drop that consolidates then bounces and consolidates higher than its baseline....(which is the push down in the middle of consolidation prior to distribution) Then after consolidation high it drops again to manipulate under the baseline to break stop losses and absorb more of the float. Then a move back to the high after the absorption which is shown on chart with Volume stating over the last 6 candles there was 38billion in volume....on the last candle there was 34 billion by its self. this is a signal of absorption is complete and now it consolidates high again just below the area it couldnt pass before. Then when its ready to break through it will drop back down to break the line it created moving up which everyone thinks is safe to place their stop losses... It breaks this line to absorb the last remaining part of the float it needs to break through the area it has not been able to get through.
The reason its been in this area so long is because it has been doing this pattern on every time line and its been waiting for each one to complete this move. Now that we are at this point it can start its move for profits..... Lets hope it takes just as long on this stage as it did on the previous.... smh
by iCantw84it
10.31.22
