BTC/USD: Wyckoff Accumulation Inside a Channel

Apr 8

I have been watching this structure building for a while now and honestly, it's getting interesting.

Back in early February we saw a massive flush down to the 60K zone- volume spiked hard, price whipped back equally hard. The action looks like a Selling Climax. The kind of move that shakes out weak hands and lets the big players quietly loading up.

The Automatic Rally followed pretty quickly, which is exactly what one would expect after the climactic action.

Then came the Secondary Test- price slowly drifted back down to retest the 60K zone, this time on noticeably lighter volume. That's the market confirming the selling pressure is drying up.

More recently we got what looks like a Spring around 65K. Not one of the cleanest one from those textbook springs you'll ever see, but the logic is there- a brief dip below support with no selling pressure, snapping back pretty quickly.

What next?
We are still inside the Downtrend Channel reflecting bearish trend. Until BTC pushes convincingly above 76K with some real follow-through, I wouldn't get too excited.

Some strong action above that level (in terms of volume and spreads) would be a Sign of Strength, and from there you might encounter a Backup Action before any potential markup phase kicks in.

The Wyckoff pieces are falling into place, but the market still needs to prove itself. Watching closely 👀

Do share in the comment section what you think at this stage.

📣Disclaimer:
Everything shared in this idea is meant for education and general awareness only. It’s neither a financial advice, nor a recommendation to buy, sell, or hold any asset. Do your own research, manage your risk, and make sure you understand what you’re getting into.

Apr 8

Trade active

On a 240 min chart 👇

Apr 22

Note

Showing strength as it wriggles up and breaking previous highs.