The whales are just drawing patterns, TA has little to do with it.
They're making an inverse Head and Shoulders, into an uptrend for the other shoulder in the bigger IHS. When we get near the trend line or hit it, they'll dump it and then come back up to complete it.
This breakout will confirm the IHS, and cup and handle into a final trend reversal upward.
Weekly MACD will confirm.
To prove this, I drew most of these lines about 5 hours ago
They're making an inverse Head and Shoulders, into an uptrend for the other shoulder in the bigger IHS. When we get near the trend line or hit it, they'll dump it and then come back up to complete it.
This breakout will confirm the IHS, and cup and handle into a final trend reversal upward.
Weekly MACD will confirm.
To prove this, I drew most of these lines about 5 hours ago