Welcome everyone.
There is a Wyckoff Scenario possibility for the upcoming weeks with Bitcoin.
We see the preliminary support on June 13th, followed shortly after by a selling climax on June 18th and an Automatic Rally to 22k.
What's interesting is that we haven't seen The Secondary Test in Phase B yet.
Which means another correction under 18k is ahead of us for the coming weeks.
If the market gives this retest, it will do so until the 16.8-17.4k level, to make a lower low below the Selling Climax.
Then, if the price returns in the range again and we see the accumulation resume, we could have either a Spring or not, depending if the market makers decide to test the bottom level a third time.
The extent of the Wyckoff Accumulation Scenario until today indicates the Mark Up phase will start either in August or October.
Idea is invalidated with daily close below 16k.
Let me know in the comments your thoughts
Toni
There is a Wyckoff Scenario possibility for the upcoming weeks with Bitcoin.
We see the preliminary support on June 13th, followed shortly after by a selling climax on June 18th and an Automatic Rally to 22k.
What's interesting is that we haven't seen The Secondary Test in Phase B yet.
Which means another correction under 18k is ahead of us for the coming weeks.
If the market gives this retest, it will do so until the 16.8-17.4k level, to make a lower low below the Selling Climax.
Then, if the price returns in the range again and we see the accumulation resume, we could have either a Spring or not, depending if the market makers decide to test the bottom level a third time.
The extent of the Wyckoff Accumulation Scenario until today indicates the Mark Up phase will start either in August or October.
Idea is invalidated with daily close below 16k.
Let me know in the comments your thoughts
Toni
King