#BTC #BTCUSD #BTCUSDT #BITCOIN #Wyckoff #Analysis #Eddy
This analysis is based on the analytical style of the Wyckoff Distribution Structure of Schematics 1 and 2.
I have outlined for you the important parts of the Wyckoff style on the one-hour timeframe.
Currently, we are in Phase C of the Wyckoff Distribution Structure.
We have to wait for the completion of this phase and the start of Phase D of the Wyckoff Distribution Structure.
When will this structure be fully confirmed? When the Bitcoin price falls to the 91800 support and gathers the final spring when this support is broken for the fall, we will enter a short position by getting the necessary confirmations based on our style and strategy.
💬 Note: It is not exactly clear whether the market maker will act based on Schematic 1 or 2, so the best entry point for short positions will be the 91800 support break. If, based on the schematic 1, the Bitcoin price UTAD and test formed, high-risk traders who are willing to trade in the opposite direction can enter a short position by getting confirmation in the time frames below 15 minutes.
Where will the targets be? The first target is 62000 and the second target can be 46000 dollars.
When can you safely close the position and enter a reverse trade, that is, long or buy? When a Wyckoff accumulation structure is formed at one of the targets.
The responsibility for the trade is yours and I have no responsibility for your failure to comply with the risk and capital management.
Good luck and be profitable.
I also invite you to review and view my latest analysis on Bitcoin via the link below:
For altcoins, follow my analysis on the Total 3 chart.
My analysis of the Total 3 chart:
This analysis is based on the analytical style of the Wyckoff Distribution Structure of Schematics 1 and 2.
I have outlined for you the important parts of the Wyckoff style on the one-hour timeframe.
Currently, we are in Phase C of the Wyckoff Distribution Structure.
We have to wait for the completion of this phase and the start of Phase D of the Wyckoff Distribution Structure.
When will this structure be fully confirmed? When the Bitcoin price falls to the 91800 support and gathers the final spring when this support is broken for the fall, we will enter a short position by getting the necessary confirmations based on our style and strategy.
💬 Note: It is not exactly clear whether the market maker will act based on Schematic 1 or 2, so the best entry point for short positions will be the 91800 support break. If, based on the schematic 1, the Bitcoin price UTAD and test formed, high-risk traders who are willing to trade in the opposite direction can enter a short position by getting confirmation in the time frames below 15 minutes.
Where will the targets be? The first target is 62000 and the second target can be 46000 dollars.
When can you safely close the position and enter a reverse trade, that is, long or buy? When a Wyckoff accumulation structure is formed at one of the targets.
The responsibility for the trade is yours and I have no responsibility for your failure to comply with the risk and capital management.
Good luck and be profitable.
I also invite you to review and view my latest analysis on Bitcoin via the link below:
For altcoins, follow my analysis on the Total 3 chart.
My analysis of the Total 3 chart:
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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.
Related publications
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.