This is premature, but demonstrates lack of motivation by fear with sellers holding off not wanting to take the loss by selling and gapping to the bid for small bids, thereby chasing the bid down increasing losses. With low volatility by way of low trader supply the trend is relatively stable. Backfill is inevitable and builds support.
As the selling pauses, everybody gains confidence and the uptrend resumes eating away at the limited supply.
Notice the gap is .015 which is considerable in this case and small bids are creeping into the main gap range. This will produce a teardrop effect. Lack of paniced sellers and evidence of cautious bidders... A very good element for early positioning.
Fold in some of the mentioned market motivators and the potential for some early positioning before exuberance takes on meaning.
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