hello ladies and gentlemen,
I want to point out my analyses based on the wyckoff strategy.
We are now in Phase A of Wyckoff. In this phase the downtrend will stop. we had an sloppy preliminary support. This support always fails. When this fail we reach the lower side of the trading range.
the lower side of the trading range coincides with the selling climax. The sellling climax is also the start for automatic reaction of the trend. This time it was a very big reaction. First, i thaught this was quite a jump,
but we felt down form 10300, so that was big also. as you can btc struggled to overcome the equilibirium on 5500-5600 than it jumped to the upper side of the trading range. it even went above.
Were we are now is in the secondary test. This test is the most important tool of the wyckoff strategy cause it will indicate if its redistribution or accumulation. often you can see by how it goes down. if it goes down correcting and very slow it indicates that the secondary is to weak for the sellers. this indicates a change of trend. If it goes hard and it comes down to the low of lower of the trading range, than sellers or to strong in this phase and it will probably be an redistribution phase.
I think the 5300-5500 will be a great buy opportunity for now, while its correcting.
After the secondary test we will go over in Phase B. this means it builts the cause for in this case an uptrend. It probably want to test the upper side of the trading range to see how many sellers are left in the market.
After this it can go to the lower side of the trading Range or it makes a higer low and slowly break out upward.
If it goes down, and we are in accumulation. a Spring will happen to fool all the sellers and provides maximum liquidity. this often fuels the run for an outbreak upward.
We will see what happens but i think this THE time to buy bitcoin.
I want to point out my analyses based on the wyckoff strategy.
We are now in Phase A of Wyckoff. In this phase the downtrend will stop. we had an sloppy preliminary support. This support always fails. When this fail we reach the lower side of the trading range.
the lower side of the trading range coincides with the selling climax. The sellling climax is also the start for automatic reaction of the trend. This time it was a very big reaction. First, i thaught this was quite a jump,
but we felt down form 10300, so that was big also. as you can btc struggled to overcome the equilibirium on 5500-5600 than it jumped to the upper side of the trading range. it even went above.
Were we are now is in the secondary test. This test is the most important tool of the wyckoff strategy cause it will indicate if its redistribution or accumulation. often you can see by how it goes down. if it goes down correcting and very slow it indicates that the secondary is to weak for the sellers. this indicates a change of trend. If it goes hard and it comes down to the low of lower of the trading range, than sellers or to strong in this phase and it will probably be an redistribution phase.
I think the 5300-5500 will be a great buy opportunity for now, while its correcting.
After the secondary test we will go over in Phase B. this means it builts the cause for in this case an uptrend. It probably want to test the upper side of the trading range to see how many sellers are left in the market.
After this it can go to the lower side of the trading Range or it makes a higer low and slowly break out upward.
If it goes down, and we are in accumulation. a Spring will happen to fool all the sellers and provides maximum liquidity. this often fuels the run for an outbreak upward.
We will see what happens but i think this THE time to buy bitcoin.