FACT- A complete technical case study

The price formed a big base from March 2021-November 2022 (Accumulation phase).

Once it started to move out of this accumulation phase, a new uptrend began.

As the new uptrend began, the price bounced over the 50 EMA which is an indication of a strong buying interest.

It gave a 160%+ move after the breakout before going into a distribution phase in January 2023.

During the distribution phase, the price gradually declined alongside the decreasing dry volumes, which typically suggests that sellers are losing interest in selling.

The price took support from the 50 EMA and rose up. Notice how the volumes rose alongside the price. This usually means that there is a strong buying interest for the price at those lower levels.

The price then formed a base like structure and gave a breakout followed by massive volumes which indicates a strong buying sentiment.

Notice how the gap between the price and the 50 EMA gets wider as the price moves up. This means that the buying interest is picking up more steam.

Also notice how the price reacts near the 50 EMA. The price never goes below it and always takes support from it. This means that their is a strong buying presence near the EMA.

The price is currently consolidating in a tight range with decreasing volumes, indicating that selling pressure is being gradually absorbed by the buyers. As a result, even a slight increase in buying interest could drive the price higher.

If the price manages to give a strong breakout then we can potentially expect a new ATH very soon.

Disclaimer: This case study is intended solely for educational purposes and should not be interpreted as investment advice or guidance.