FirstClassCrypto

A BTC Wyckoff Schematic that tells us the end is near

BNC:BLX   BraveNewCoin Liquid Index for Bitcoin
This is my Wyckoff Accumulation Schematics I am watching. There are (2) types of schematics to keep an eye out for, schematic #1 provides a "spring" below support levels 1 and 2 but since this has been a true accumulation bottom buyers bring the price back above the supports and the uptrend begins. A spring is often caused by the market makers where they are "testing the waters" to see where the rest of the market stands and they will also use a spring to create last minute liquidity for their accumulations. Since price is falling below supports the rest of the market begins to believe the downtrend has resumed and begins to sell.....only selling to the powerful market makers at the exact bottom. There is also schematic #2 where there is no "spring", instead price comes down for its final test on support #1 and possibly #2 where it holds and then the uptrend begins. In the scenario we face right now with the weekly sma200 which i have roughly drawn in for the future test, we could in fact see price drop below this moving average but still hold onto support #2 for a schematic #2...... dropping below the weekly SMA200 could alone be viewed as a "spring" because it holds so much power in the overall macro trend. For a while I was placing the "sharp rally" where I have shown you "simple rally #1" which would have played out with an uptrend beginning in late July but now I am starting to believe the scenario I am showing you in this chart could very well play out.
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