What you're describing is distribution, if professionals were accumulating they would have picked a price level that they would be supporting, not milking a level then letting it drop to the next. That strategy reeks of retail averaging down, additionally looking at the day pairs Feb 5 & 8, and Feb 12 & 15 all the volume (effort) is in driving the price up, not absorbing it on the way down. Both upbars (5 & 12) both close off the highs indicating that the volume contained selling and that's confirmed by the next day's down bar, the low volumes of those indicate there was no buying. To my eye the accumulation occurred Nov 11 through Dec 16, note the tight range of trading and the heavy volume downbars - this indicates the professionals having picked a price they were comfortable supporting, and thus when price threatened to breach this level they took advantage and bought (supporting the price) and this shows up in the heavy volumes, and in the subsequent trading price doesn't break down. The period Dec 9 - 15th being the final shakeout where price was deliberately taken lower, before the markup started Dec 16. here was a further period of absorbtion from Dec 18 to Jan 7, just shaking loose more weak hands before the push upwards on Jan 8. You are correct though that this next period may become a further period of accumulation and it's worth keeping an eye on. Things to look for will be some sort of climactic action (large volume, typically on a downbar but it can also show as a buy the offer on an upbar) and a controlled structure with an extended period of support.
