BTCUSDT | Wyckoff Accumulation Before Huge Growth?

Hello, dear subscribers!

Let's take a look at the very interesting scenario for Bitcoin which can play out.

The market was in the massive growth stage before this nasty correction occur. The drop was really rapid but the price formed the preliminary supply and the selling climax points. You can check the article about Wyckoff cycle with the link below, but i will remind you that the Wyckoff accumulation process of transferring the stock (or cryptocurrency) from retail investors (weak hands) to institutional investors (strong hands). Retail investors are in panic during this correction, while institutionals do not miss their chance to buy Bitcoin at lower price.

During last week we have a lot of messages that some huge corporation buys Bitcoins at prices below $50000. For example, today MicroStrategy has purchased an additional 205 bitcoins for $10.0 million in cash at an average price of $48,888 per Bitcoin.

So, if we are really in the Wyckoff cycle now there are two scenarios can be.

1. White scenario. We are goin to start the Phase C of the cycle. In this case here can be a lot of shakeouts. The whales usually manipulate the market at this stage. The price is not going to drop significantly below current level. In Phase D it will rise to resistance level and form the sign of strength before continue move to the upside.

2. Red Scenario. Do not panic if the price reach $42000. The scenario with spring is also possible. It is nice opportunity to buy cryptocurrency before the uptrend continuation.

Please, give your experience of Wyckoff cycles trading in comments and give us your support with like!

DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.

Comment:

The price now is forming the potential ascending triangle, which has a great probability to be broken to the upside. We can see also that price got a rejection at 0.5 Fib level ($50700). Now it is vital to bounce off the 0.38 Fib ($48900) for the Wyckoff scenario without spring (white) scenario completion. In the opposite case the triangle's breakout to the downside can lead to the Wyckoff scenario with spring and the price drop to $42000 before the uptrend continuation.

Trade closed: target reached:

The Wyckoff cycle is on the track without the spring. The price broke through the resistance of the trading range. Now it looks like that the phase C is in the past and the price is in the phase D. It seems that now the Bitcoin price is forming the sign of strength in the phase D. If it is able to find support above the resistance level the impulsive move to the uptrend is imminent.
This is a final update of the current analysis.