Bitcoin x Wyckoff â 1) Need to flip that 1H - 200 EMA to Support ðĄ2) Volume should start increasing as retail traders take positions. ðĨ3) Price needs to get to the $43,000 Resistance Line ðĨ4) Reversal is only confirmed with a huge Volume Spike... FireRocket
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Just updated the Wyckoff Schematic to be more detailed and precise... â 1) Need to flip that 1H - 200 EMA to Support ðĄ2) Volume should start increasing as retail traders take positions. ðĨ3) Price needs to get to the $43,000 Resistance Line ðĨ4) Reversal is only confirmed with a huge Volume Spike... ðĨð
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As bullish volume expands, this is the phase of the Wyckoff schematic where traders will look to go Long.
â 1) Need to flip that 1H - 200 EMA to Support â 2) Volume should start increasing as retail traders take positions. ðĨ3) Price needs to get to the $42,000 Resistance Line ðĨ4) Reversal is only confirmed with a huge Volume Spike at Sign of Strength... ðĨð
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BITCOIN x Wyckoff Accumulation appears to have failed... ð Only sign of hope is the lack of increasing Bear Volume in relation to price dropping. (Effort < Result) Without Bullish Demand... the only chance of a reversal is a Short Squeeze by whales at $30,000...
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BITCOIN -- Supply and Demand â Battle Is Coming to a Close! (after 25 days of agony ð) Volume in relation to Price (Effort and Result)... have shown that Bears ðŧ had no follow-thru and the Bulls ð gave clues of accumulation with increasing volume spikes. ð
â 1) Above 1H - 200 EMA to Support â 2) Bullish volume increasing as retail traders take long positions. ðĨ3) Price needs to get to the $42,000 Resistance Line ðĨ4) Reversal is only confirmed with a huge Volume Spike at Sign of Strength... ððĨð
ðĪŠI can't believe it's been ranging sideways for nearly a month! (25 days to be precise.) I believe Bitcoin may take the lead, while the Altcoins may lag behind and range sideways for an extended time.