After now over 3 months of sideways going we penetrated the support line around 1.1-1.2 $
The most likely scenario is that we are in a big reaccumulation there are tons of people that took profits within that time so we note the algos of the composite operator absorbed the supply and distributed fiat to profit takers.
Distribution occured on the upper range everytime retail was hyped to meet demand those people are put under a loss for a certain amount of time.
In reaccumulations we have both on going distribution to meet demand at upper ranges especially , supply absorbtion through profit takers. The goal in reaccumulations is to use a certain amount of supply in order to surpress it by passing bags to retail filling demand, letting alot of time pass so people lose interest to hold it and sell it.
The most likely scenario is that we are in a big reaccumulation there are tons of people that took profits within that time so we note the algos of the composite operator absorbed the supply and distributed fiat to profit takers.
Distribution occured on the upper range everytime retail was hyped to meet demand those people are put under a loss for a certain amount of time.
In reaccumulations we have both on going distribution to meet demand at upper ranges especially , supply absorbtion through profit takers. The goal in reaccumulations is to use a certain amount of supply in order to surpress it by passing bags to retail filling demand, letting alot of time pass so people lose interest to hold it and sell it.