As we know at the every top and every bottom of the correction in the last year there has been form either a Wyckoff Distribution or Accumulation Schematic allowing Smart Money to Accumulate their Positions for an upcoming change of Trend.
This Time should be no different and we already see a possibility of the Wyckoff Accumulation Schematic forming on the Bigger Picture on Bitcoin.
Price has formed 2 Liquidity points, Buyers Climax and Secondary Test which already have been liquidated by a possible Spring that is forming Right now.
What is Key to this Wyckoff Schematic is that we don't just look for them on a random point of the Market but usually in a special area that may signify the change of Trend.
This time this special area is a 30k zone which is a Big Support zone from the previous Accumulation, which is also backed by some very important Fibonacci levels making current forming Wyckoff Schematic more probable.
Now, when we know that a schematic may be forming and that it is in the right place, what can happen next?
Well, there's a few patterns to a Wyckoff Schematic and we have to remember that no schematic is the same nor perfect as a textbook example.
Assuming right now, we have Spring forming, we can have upward move next, giving us a last point of support (LPSY) and then rally to the upside,
or we can have another leg to the downside which would be called a Spring in Phase B, liquidating positions from Spring.
Either way, the direction of the Accumulation Schematic is always bullish.
This Time should be no different and we already see a possibility of the Wyckoff Accumulation Schematic forming on the Bigger Picture on Bitcoin.
Price has formed 2 Liquidity points, Buyers Climax and Secondary Test which already have been liquidated by a possible Spring that is forming Right now.
What is Key to this Wyckoff Schematic is that we don't just look for them on a random point of the Market but usually in a special area that may signify the change of Trend.
This time this special area is a 30k zone which is a Big Support zone from the previous Accumulation, which is also backed by some very important Fibonacci levels making current forming Wyckoff Schematic more probable.
Now, when we know that a schematic may be forming and that it is in the right place, what can happen next?
Well, there's a few patterns to a Wyckoff Schematic and we have to remember that no schematic is the same nor perfect as a textbook example.
Assuming right now, we have Spring forming, we can have upward move next, giving us a last point of support (LPSY) and then rally to the upside,
or we can have another leg to the downside which would be called a Spring in Phase B, liquidating positions from Spring.
Either way, the direction of the Accumulation Schematic is always bullish.