veyasins

We've just witnessed a textbook price action sequence unfold. After a period of what I've marked as 'accumulation' (that red box), where price consolidated, we saw exactly what we were looking for: the 'liquidity' below that range (the grey box) has been swept. That yellow bar clearly indicates the 'manipulation' phase, pushing below the perceived support to trap early longs and trigger stop-losses. This move has successfully taken out the easily accessible liquidity. Now, with that essential 'clean-up' complete and the order books likely reset, the path of least resistance appears to be upwards. Furthermore, if you look down at the RSI, it's currently sitting in a relatively oversold or at least low position, providing additional confluence for a potential bullish move. My current thesis is that we are now primed for an 'expansion' phase (the green box). The target here, based on this setup, is a retest of the All-Time Highs (ATH) and potentially beyond. We've seen this pattern play out before: accumulation, a liquidity grab/manipulation phase, and then a strong push higher. As always, manage your risk, but the charts are certainly hinting at significant upside potential from here.

We can clearly see that price has recently touched the 0.5 Fibonacci retracement level and subsequently pulled back to the 0.7 region. What's particularly interesting to me is that the liquidity within that grey box below hasn't been swept yet. My current conviction is that price is likely headed down to that grey zone to collect the pending liquidity. This area around the $0.66 - $0.70 range looks like a prime target for a retest, potentially offering a good confluence for a bounce or at least a significant reaction. We'll need to watch for confirmation, but the setup suggests a continuation lower in the short term to tap into that unmitigated demand.