If BTC is accumulating, we need another dip to 30k soon
Updated
I am trying to apply the Wyckoff accumulation schematic to the BTC price action. I believe we could be accumulating as the phase A of the suggested schematic would correspond to the phase E of distribution of the last ATH cycle (from 30k to 69k). However, being in phase B currently, if the current PA is indeed doing Wyckoff accumulation then it needs to print an ST that is lower than the selling climax (SC). I think this is one of the strict requirements for the accumulation schematic to be correct. This would mean another swing down to 30k approx. in a week or two. Tell me what you think about that.
Note
Looking at top alts charts, I'm thinking our last low at 34.5k might have actually been the ST in phase B, though it wasn't lower than the SC. The big demand from Russia and Ukraine that "caused" the recent surge to 45k is making it even less clear whether we are in accumulation or still distribution.
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