BTCUSD - Wyckoff accumulation Phase C
This is a follow-up on an idea that I published at the beggining of december 2018 (tradingview.com/chart/BTCUSD/Q6BFznTp-BTCUSD-I-call-this-one-The-Wyckoff/)
I still think this is valid and we are now at the beggining of phase C of the Wyckoff accumulation (imgur.com/a/M57LYxc)
We are creeping up against the resistance but will eventually fail. We currently have a bullish sentiment and a long/short ratio that is increasing. This will provide liquidity on the way down.
Target is between 2600-2800$. If this scenario plays out and heavy selling ensue once we break support, we may have to move our target downward.
Good luck.
I still think this is valid and we are now at the beggining of phase C of the Wyckoff accumulation (imgur.com/a/M57LYxc)
We are creeping up against the resistance but will eventually fail. We currently have a bullish sentiment and a long/short ratio that is increasing. This will provide liquidity on the way down.
Target is between 2600-2800$. If this scenario plays out and heavy selling ensue once we break support, we may have to move our target downward.
Good luck.
Note
The target:Note
Relief rally is about to start. Closed the short and going to reopen at about 3800$
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.