BTCUSD - Wyckoff Accumulation Scenario (8H Chart)
Hey Guys,
I've tried to implement the Wyckoff Method on this 8 hours chart of BTC USD pair.
Today's dip, 28K area, might as well be the "Spring" part of the method. Either way, whether it's spring or ST in phase B, I think we will hit 40K area once more in the upcoming days.
And that hit will be decisive for us whether todays dip is spring or ST in phase B. If we break and close above AR, the resistance zone, then I think we're good to go to continue our bull run. If not, then 28K maybe counted as ST in phase B and we should look for the spring.
By the way, there's another chance of no "spring" at all according to Wyckoff Method. If we consider todays dip as ST in phase B like in the chart above, then we might not even get a spring at all. That's the 2nd scenario of Wyckoff accumulation method.
Check the 2 schematics below to see it for yourself, to understand his methods and 2 different accumulation scenarios, considering 28K dip as "ST in phase B" or "spring".
Check the related ideas too. We may as well be in the red arrow scenario in the "A parallel world of Bitcoin" chart.
PS: Not a financial advise, just an idea. Trade responsibly.
Note: Dates on the chart are for reference only. Do not take them under consideration at all.
Wyckoff Accumulation Method 1: Image 1
Wyckoff Accumulation Method 2: Image 2
I've tried to implement the Wyckoff Method on this 8 hours chart of BTC USD pair.
Today's dip, 28K area, might as well be the "Spring" part of the method. Either way, whether it's spring or ST in phase B, I think we will hit 40K area once more in the upcoming days.
And that hit will be decisive for us whether todays dip is spring or ST in phase B. If we break and close above AR, the resistance zone, then I think we're good to go to continue our bull run. If not, then 28K maybe counted as ST in phase B and we should look for the spring.
By the way, there's another chance of no "spring" at all according to Wyckoff Method. If we consider todays dip as ST in phase B like in the chart above, then we might not even get a spring at all. That's the 2nd scenario of Wyckoff accumulation method.
Check the 2 schematics below to see it for yourself, to understand his methods and 2 different accumulation scenarios, considering 28K dip as "ST in phase B" or "spring".
Check the related ideas too. We may as well be in the red arrow scenario in the "A parallel world of Bitcoin" chart.
PS: Not a financial advise, just an idea. Trade responsibly.
Note: Dates on the chart are for reference only. Do not take them under consideration at all.
Wyckoff Accumulation Method 1: Image 1
Wyckoff Accumulation Method 2: Image 2
So lately I've begun to think that we haven't even started Wyckoff Accu phases.
This I'll still follow up but may need a new one soon.
Take care.