Hidden Wyckoff Accumulation, Spring And Breakout Scenario!
Hi all,
Latest price action showed wyckoff is not a pattern but a scheme. Lot's of non-text-book, incomplete distributions and accumulations and their twisting combinations occured, so i digged in to the idea of a bigger underlying structure of accumulation, right under the yearly resistance at 58k looked very much possible to me especially after many bullish w shaped bounces i mentioned in my previous post.
It's not text book, but the volume reveals the climactic action on PS and close to SC.
If Bitcoin was to dip below 50k, it would do it without warning! This is pretty much sideways trading range, a good sign of accumulation, yet to be confirmed by a spring, breakout and a strong rally.
Be prepared.
As always trade safe and use a stop loss & stop buy!
Latest price action showed wyckoff is not a pattern but a scheme. Lot's of non-text-book, incomplete distributions and accumulations and their twisting combinations occured, so i digged in to the idea of a bigger underlying structure of accumulation, right under the yearly resistance at 58k looked very much possible to me especially after many bullish w shaped bounces i mentioned in my previous post.
It's not text book, but the volume reveals the climactic action on PS and close to SC.
If Bitcoin was to dip below 50k, it would do it without warning! This is pretty much sideways trading range, a good sign of accumulation, yet to be confirmed by a spring, breakout and a strong rally.
Be prepared.
As always trade safe and use a stop loss & stop buy!
Comment:
Bitcoin broke the down trend and triggered my stop buy without the spring which is not a required event. Rejection from 58k tells us, spring can still happen, so 54.900 is where i'll buy the dip.
Comment:
Spring
