In my latest video we explore the technical analysis behind SPS' current price action and what that may mean for the token moving forwards.
We specifically explore accumulation patterns which can leave behind a footprint which can suggest what larger players and smart money are doing. If we can learn how to identify the pre-conditions of these phases, we can undertake our participation and campaigning before a large markup occurs.
Firstly we explore the different phases of an accumulation pattern. Then we take a closer look within these phases to understand how price is reacting.
Larger interests like to purchase very carefully in this trading range because they don't want to push price out of the TR until they have completed their entire purchase. So in order to do this they tend to put in buy orders in the lower portion of the TR and then stop buying when it gets into the upper half of the trading range. This is what causes the sideways market activity, where prices trade in a wide bounding TR and seemingly go nowhere.
To understand more about these concepts please check out the video!
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