BTC local accumulation still in play, target still 11300-11400
First off let's start with a very small timeframe localized chart:
I believe we are still in an accumulation type of consolidation.
I believe 11750-ish should be your next target for re-entry into a long. If you want, you can short down from about 10920 or so for the swing play.
I believe we are still in an accumulation type of consolidation.
I believe 11750-ish should be your next target for re-entry into a long. If you want, you can short down from about 10920 or so for the swing play.
Comment:
Aaaand right on cue...
Comment:
Comment:
NEWEST UPDATE:
Unfortunately, the Wyckoff model has two different accumulation version.
One that has a spring, and another that does not. The bounce at the bottom of the channel makes it obvious that we are in the second type of accumulation and we should break out and over the trading range...
This is considered extremely bullish. We didn't even retrace to a 1.272 swing.
Unfortunately, the Wyckoff model has two different accumulation version.
One that has a spring, and another that does not. The bounce at the bottom of the channel makes it obvious that we are in the second type of accumulation and we should break out and over the trading range...
This is considered extremely bullish. We didn't even retrace to a 1.272 swing.