2023 Charts, page-1920

GlobalX Li & Bat ETF (LIT)

It appears to me that the ETF is in accumulation mode by trading within the distinct channel.
The spike down below the bottom of the range came from nowhere & was a complete surprise to me especially when it reclaimed the channel so quickly.
The reason/s may sound far-fetched but this kind of action can be caused by the BEOT wanting to take a very large position without moving the market too much.
The smarts know that the range traders will be buying at the bottom & shorting at the top, (easy money) & where the on a stop buy /short orders will be located.
The idea here is to run the bottom stop, take out those traders who were thinking price would respect the channel & didn't, then run the short stops just inside the channel and take out the shorts who were thinking it could break below & carry on down.
If this is indeed the scenario then the BEOT would have filled a sizeable order & hardly moved the price.
Time will tell if my musing is somewhere near the mark, or it all goes pear shaped & I'm completely wrong.
My opinion only.