Update on previous cheat sheet after the recent massive short squeeze on Bitcoin. Trendlines and support/resistance levels mostly unchanged.
We had a protracted Phase C second test followed by a move into Phase D which was confirmed after we broke out of the trendline at 33k.
Sign of strength came from a massive short squeeze as we broke through 35-36k.
Update on the previous cheat sheet with new trendlines and support/resistance levels.
Have also included the cumulative volume of each swing high and low since the Spring/Shakeout, to better show accumulation with lower volume on each pullback compared to up swings. (Note that volume is only based on BINANCE:BTCUSDT )
It appears we have just formed the second...
Putting the Wyckoff Accumulation pattern in the context of live charts with horizontal support/resistance and cloned trendlines .
Price has been tracking nicely since the Spring Shakeout on Jun 22 2021. Figured I'll publish this to use as a guide for trading entries if price continues to track it.
55 & 233 Daily SMA Cross: +1
Using 55 and 233 as Fibonacci versions of 50 and 200 day moving averages
Currently in golden cross.
55 & 233 Daily SMA as Support & Resistance: 0
Currently not in play.
Relative Strength Index: -0.5
Earlier trend line break on May 20 was accompanied by RSI at 58. This shows strength above 55, but...