Orderblock analysis:
Prior swing low taken on January 3rd dump to .076.
Last down candle before the move up a few days thereafter, which is where orderblock is. It is where market orders selling were absorbed by passive bid. Entity with enough size to move market absorbed all the sell pressure, thereby creating orderblock.
Market structure breaking move to the upside follows as other large buyers step in, leaving behind liquidity gap or fair value gap that is often protected on any retests.
You can see buyers stepping in at the same place the orderblock was originally created on retests so far.
Prior swing low taken on January 3rd dump to .076.
Last down candle before the move up a few days thereafter, which is where orderblock is. It is where market orders selling were absorbed by passive bid. Entity with enough size to move market absorbed all the sell pressure, thereby creating orderblock.
Market structure breaking move to the upside follows as other large buyers step in, leaving behind liquidity gap or fair value gap that is often protected on any retests.
You can see buyers stepping in at the same place the orderblock was originally created on retests so far.