Some traders and analysts cannot agree if we are looking at re-distribution or accumulation. For me this looks like re-distribution, on a daily timeframe it's looking more obvious right now. If Bitcoin bulls do reclaim control here I will revise this chart in line with Wyckoff accumulation. If we don't get a significant mark down from here towards 28-25k then...
Following up from yesterdas LINK post, zooming in to the 12 hr timeframe LINK is continuing to build a really nice potential parabolic breakout structure. Three higher lows so far! Interesting to see how it plays out this coming trading week. All momentum oscillators are looking strong.
BTC looking very strong on the weekly, although will it repeat the same pattern as July this year? Having broken two year weekly resistance levels Bitcoin is clearly heading up, how long will it take is the question.
