BITCOIN 😲 Wyckoff Accumulation??? 🐍🚀 Spring in Progress...
BITCOIN -- Supply and Demand ⚔ Battle Continues! 😬
Bullish volume expands at the bottom of Trading Range $32,000.
(This was the "Hold the Door" moment in GOT. 🏋️♂️)
In the Wyckoff schematic, this appears to be the SPRING 🐍. Bullish volume has entered... bulls escape the death trap to $20,000.
Admittedly, "Phase B" went on longer than I thought it could and had me faked out thinking this was a failed Wyckoff Accumulation in my earlier post updates... 😅 but the SPRING move changes this battle of Supply and Demand. 😮
✅1) Flipped 1H - 200 EMA to Support
✅2) Bullish volume increasing as retail traders take long positions.
🟥3) Price needs to get to the $42,000 Resistance Line
🟥4) Reversal is only confirmed with a huge Volume Spike at Sign of Strength... 🐍🔥🚀
Bullish volume expands at the bottom of Trading Range $32,000.
(This was the "Hold the Door" moment in GOT. 🏋️♂️)
In the Wyckoff schematic, this appears to be the SPRING 🐍. Bullish volume has entered... bulls escape the death trap to $20,000.
Admittedly, "Phase B" went on longer than I thought it could and had me faked out thinking this was a failed Wyckoff Accumulation in my earlier post updates... 😅 but the SPRING move changes this battle of Supply and Demand. 😮
✅1) Flipped 1H - 200 EMA to Support
✅2) Bullish volume increasing as retail traders take long positions.
🟥3) Price needs to get to the $42,000 Resistance Line
🟥4) Reversal is only confirmed with a huge Volume Spike at Sign of Strength... 🐍🔥🚀
Note
BITCOIN -- Supply and Demand ⚔ Battle Is Coming to a Close! (after 25 days of agony 😓) Volume in relation to Price (Effort and Result)... have shown that Bears 🐻 had no follow-thru and the Bulls 🐂 gave clues of accumulation with increasing volume spikes. 🐍✅1) Above 1H - 200 EMA to Support
✅2) Bullish volume increasing as retail traders take long positions.
🟥3) Price needs to get to the $42,000 Resistance Line
🟥4) Reversal is only confirmed with a huge Volume Spike at Sign of Strength... 🐍🔥🚀
🤪I can't believe it's been ranging sideways for nearly a month! (25 days to be precise.) I believe Bitcoin may take the lead, while the Altcoins may lag behind and range sideways for an extended time.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.