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Saann
Jun 24, 2021 10:09 AM

BTC Wyckoff Accumulation Spring and Test. Phase D about to begin Long

Bitcoin / U.S. dollarBitstamp

Description

Huge accumulation during a consolidating market on BTC since the impulsive sell off caused by liquidation of over leveraged positions. Huge Bearish wick to downside was a last effort push to the downside to liquidate Longs under previous lows (grab liquidity) before a continuation higher.

Phase D is about to begin

See Chart:

school.stockcharts.com/lib/exe/fetch.php?media=market_analysis:the_wyckoff_method:wyckoffaccumulation.png
Comments
FaisalJ12
We will see, we HAVE to see an increase in volume, right now low volume, this could have just been an ST in phase B where we go below the SC and real spring yet to come, unless I see big increase in volume I will lean more towards that idea.
Saann
@FaisalJ12, Volume precedes price yes. I can see loads of volume on 4H
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