💡 Previously shared the idea that Bitcoin is undergoing global re-accumulation according to Wyckoff method.
✅ Now a similar picture is observed on all time frames.
📈 Micro-range, in which the price has been consolidating for the last 9 days, has acquired an accumulation structure. The deviation from consolidation, having collected the sellers' liquidity, formed Spring and a beautiful Test.
🗣 Return to the channel after the Test gives a reason to believe that the Wyckoff structure is correct and the next goal will be 9250-9300 zone, where the price can form LPS for the next impulse to the upside out of the channel.
🧠 After forming the SOS, long positions can be considered for the medium-term.
Trade active
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We got BOS - break of market structure. It is possible to look for an entry point to open long position for the medium-term:
Excellent work!
We still have strong channel and EMA resistance above. And the resistances at this point are stronger than the supports below. Key support for this week at the 8.8-8.9k zone as many still believe in the “current triangle” shape.
What do you think our long term perspective?