Bitcoin Wyckoff - Easy trade this one
Updated
Do people even read this stuff? Apparently tradingview "encourages" users to strongly provide more detail in posts. I feel like the chart itself explains everything.
So ugh, we had some last point of supplies and using pnf targets, we have around 12 columns (not seen in chart) of $500 which equals $6000. So from roughly $70,000 we add +6000 for a target of around $76,000 (plus or minus $1000).
From there I don't expect us to go higher without some "reaccumulation". How that look will be another story, an aggressive upwards/downwards, or a classic flat one. The timing of it seems to be aligned with the "halving" which could cause a sell the news event ideally breaking 60k, but this is way too early for that.
For now, easy long to 76k. See you there.
So ugh, we had some last point of supplies and using pnf targets, we have around 12 columns (not seen in chart) of $500 which equals $6000. So from roughly $70,000 we add +6000 for a target of around $76,000 (plus or minus $1000).
From there I don't expect us to go higher without some "reaccumulation". How that look will be another story, an aggressive upwards/downwards, or a classic flat one. The timing of it seems to be aligned with the "halving" which could cause a sell the news event ideally breaking 60k, but this is way too early for that.
For now, easy long to 76k. See you there.
Note
Stop loss at 66k.Trade closed manually
Not gonna lie, doesn't look good despite not hitting my stop loss yet. Feels like a little too much weakness to me. I'm gonna close here at 69k for breakeven. Always another opportunity, as long as you're not broke!
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