Saann

BTC Wyckoff Accumulation Phase D Begins

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BTC has been consolidating for several weeks now after a very impulsive sell off caused by over-leveraged positions being liquidated.
The consolidation was really just an accumulation period for the larger players wanting to get back into the market without pushing price up on themselves.
Wyckoff Accumulation pattern 1 is playing out very, very well so far.
Once price breaks out of Phase D into Phase E, what will cause price to continue higher is the once again over-leveraged short positions of all the people believing we're in a bear market.

Someones gotta supply that liquidity. Glad its not me


https://school.stockcharts.com/lib/exe/f...

Comments

slightly different. Will you be predictable again?
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Sorry. Your prediction was correct.
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I think you're wrong
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Im not sure thats exctly the right placement for the Preliminary Support. If you start comparing starting with April Highs Preliminary support is closer to 50k :)
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Note Phases are not to scale. Understanding where the market is (Cheap/Expensive) is one thing, timing the market is another.
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