Obvious Wyckoff Structure in BTC/USD market
Updated
The pricing almost perfectly follows the textbook Wyckoff accumulation schematic.
A little too perfectly.
It makes me suspicious.
A little too perfectly.
It makes me suspicious.
Note
The rally continued longer than I expected, but is neither here nor there in terms of the prediction. Far more interesting is that the price has come all the way back down to the $6800 range, and bounced from that resistance. If the price can continue back up higher than the previous high, then we are onto something really good here.I have opened up a few long positions on this support, and have my fingers crossed!
Note
This is beginning to look like a failure now, unless we bounce from this level with enough strength to break the bull market sentiment - maybe something like this could still play out:Note
*to break the BEAR market sentiment. Typo in previous comment. Oops.
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.