Good day traders.
Already we can see that on hourly chart BTC has been completing the first phase of a Wyckoff Accumulation Schematic. Price made a preliminary support on May 10, where substantial buying began. Shortly after on May 11 the selling climax happened, at which heavy selling was done by the public and absorbed by large professional traders.
We are now about to enter phase B, at which a secondary test is very likely to happen, revisiting the area of the selling climate to test again the supply/demand balance at these levels. If the bottom is confirmed, by staying above and by increasing volume, then this will be a phenomenal BUYING OPPORTUNITY. Right now this zone sits between 27-24k and It’z the price zone I’m planning to buy BTC at.
From there, if I’m correct the Wyckoff Accumulation should be done by middle of June and we should start to see the first rally to the upside. Giving the conditions of the market, the target zone could be a little lower between 46-48k, instead of 50-53k.
We still can’t know this precisely yet, but it’s better to take profits in advance.
As of now, the selling zone will be 46-48k.
Already we can see that on hourly chart BTC has been completing the first phase of a Wyckoff Accumulation Schematic. Price made a preliminary support on May 10, where substantial buying began. Shortly after on May 11 the selling climax happened, at which heavy selling was done by the public and absorbed by large professional traders.
We are now about to enter phase B, at which a secondary test is very likely to happen, revisiting the area of the selling climate to test again the supply/demand balance at these levels. If the bottom is confirmed, by staying above and by increasing volume, then this will be a phenomenal BUYING OPPORTUNITY. Right now this zone sits between 27-24k and It’z the price zone I’m planning to buy BTC at.
From there, if I’m correct the Wyckoff Accumulation should be done by middle of June and we should start to see the first rally to the upside. Giving the conditions of the market, the target zone could be a little lower between 46-48k, instead of 50-53k.
We still can’t know this precisely yet, but it’s better to take profits in advance.
As of now, the selling zone will be 46-48k.
King