"bullsih pennant" in re-accumulation (reference)

Background on higher time frame was bullish/uptrend.

Characteristics/points of confluence:
established up trending background
50% retracements with high volume price rejection
signs of strength/ buying into the sell pressure on high volume
Break below support (red box in this example)
low volume Test of resistance (in this example previous support and VWAP) returns low sell pressure
No-supply test at VWAP (circled)

Maybe termed a "fall through the ice" in the Wyckoff methodology.

Fairly textbook accumulation schematic with a bullish pennant in the area of the LPS/TSO.

Volume is key.

Training*



“Patience is key to success not speed. Time is a cunning speculators best friend if he uses it right”

Jesse Livermore

Sources of education:
Tom Williams Volume spread analysis VSA/ Master the Markets
Richard Wyckoff
Pete Faders VSA*
Read the ticker dot com
Dee Nixon
BTC trading challenge price action/volume techniques

Good luck