This is a classic example of the liquidity sweep. As you can see the price was in an accumulation phase, then a manipulation phase where institutions push the price up temporarily to grab the liquidity sitting above or below, in this case above, the accumulation phase. This extra liquidity will help fuel the push down. Let me know your thoughts guys! 👍
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.