BTCUSDT rejected the resistance price @ 52,000 since the beginning of the month and since then came down to 40500 to form a support. Price still holding at that support area (40500/39600)and from a bigger picture on the Daily TF, we can spot a bullish continuation flag pattern.
Price has been under pressure in the support area and showing us that the bulls are...
(A followup from my previous idea linked bellow)
I believe this scenario to be less likely than my pervious idea but am posting it hoping for feedback.
This is a second idea still keeping to Wyckoffs accumulation schematic.
It may be possible that the accumulation period is shorter than I stated in my previous post.
I've moved ST to just below AR....
last week professionals did profit taking by their long positions. 48700 initial support even suspect break due to fast fall down. 452000 strong support area should hold to maintain bullish trend for longer term. 63300 and 65000 possible target soon, even suspect more bullish if breaks and hold above 65000
As you can see the breakout has cleared expectations quite massively
It broke to our expected areas, highlighted by the % change ranges and also the 1.618 fib
However it then flipped these areas to support and has now reached the 2.618 fib
This is a crazy push, the MACD positive cross helped the momentum printing an almost $2000 candle
If it can flip the 2.618 to...