As can be seen early highs trapped a sizable number of people.With previous selling behavior I personally believe we are still in a distribution process.(weekly candle also indicates the risk of downward break)
①Buying climax.In addition Swift motion here reveals that supply entered dramatically in this zone.In accumulation market maker won't sell in this zone,therefore it's a sign of distribution
②After testing the demand, an upward test appeared. However, this breakout didn't attract more demand.In fact it caused a big dump.
③Price cannot rebound swiftly, this indicates weakness of demand.
④Shriking volume is not a positive signal right here.After breaking the ice the volume should show strength but it didn't, in addition candles are not active, they are getting smaller and this tells us that demand cannot fully control the market.
①Buying climax.In addition Swift motion here reveals that supply entered dramatically in this zone.In accumulation market maker won't sell in this zone,therefore it's a sign of distribution
②After testing the demand, an upward test appeared. However, this breakout didn't attract more demand.In fact it caused a big dump.
③Price cannot rebound swiftly, this indicates weakness of demand.
④Shriking volume is not a positive signal right here.After breaking the ice the volume should show strength but it didn't, in addition candles are not active, they are getting smaller and this tells us that demand cannot fully control the market.
