Fidel_Cashflow

Wyckoff Accumulation

BITSTAMP:BTCUSD   Bitcoin
BTC just broke out of a massive bear flag, and while the target price for that flag is much lower, I'm not convinced it will fulfill it. We can see that a slightly ugly Wyckoff Accumulation occuring, which signifies a bottom. Since there are competing signals, I am not going to trade this, but this formation is a strong one and worth pointing out.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.