BitcoinLong
BTC 4H chart - Wyckoff accumulation update
Good morning traders...
Just a quick n update on my previous posts about the wyckoff accumulation... the price appears to be finding support around the previous resistance levels I suggested.
Whilst most people will be looking at this as an abcde bear flag pattern which has been completed, I am taking a different view still.
I have drawn on the trend lines for the bear flag pattern that most people will be seeing, but I have also combined the wyckoff accumulation with elliot waves and fibonacci extension levels to predict future price movements and future resistance / support levels for the new trend that follows a wyckoff accumulation.
The bottom support level around 18.5k is a significant support level.... not just in this wyckoff accumulation, but it is also the weekly close price / resistance level from the 2017/2018 high which is now proving to be strong level of support.
I'm melting in this UK Heat... all my fellow suffering Brits give me a shout 🥵🥵
Have a great day and good trading.
DUB
Just a quick n update on my previous posts about the wyckoff accumulation... the price appears to be finding support around the previous resistance levels I suggested.
Whilst most people will be looking at this as an abcde bear flag pattern which has been completed, I am taking a different view still.
I have drawn on the trend lines for the bear flag pattern that most people will be seeing, but I have also combined the wyckoff accumulation with elliot waves and fibonacci extension levels to predict future price movements and future resistance / support levels for the new trend that follows a wyckoff accumulation.
The bottom support level around 18.5k is a significant support level.... not just in this wyckoff accumulation, but it is also the weekly close price / resistance level from the 2017/2018 high which is now proving to be strong level of support.
I'm melting in this UK Heat... all my fellow suffering Brits give me a shout 🥵🥵
Have a great day and good trading.
DUB
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