IMPULSIVE BREAK, RE-ACCUMULATION ENDING & NEW BULL PHASE STARTS
Updated
Re-accumulation as per the Wyckoff Methodology is nearing completion as indicated by the appearance of [1] an Impulsive Break of the major descending trendline. Two scenarios can possibly playout that being whether the Impulsive Break of the trendline extends to break [2] the last significant structural Level before retesting this level and advancing higher OR whether the impulsive movement is rejected at this level to retrace lower before advancing through this structure.
Either way BTC market structure is changing towards a bullish bias with a strong uptrend to recommence within the next week or two. This conclusion is further supported by evidence that the SPRING is in place and volume analysis indicates significant reduction in SUPPLY as retail interests have all but ceased selling as BTC has shifted from weak hands to the strong. It is noteworthy that BTC during this re-accumulation phase has not closed below 31500 on more than one day which is demonstrative of the big operators entering the market to buy strongly at this price level as they build their cause for higher prices to come.
Your constructive comments are very much welcomed.
The trend can be your enemy or your friend, just don't find yourself on the wrong side of it without an exit plan!
LIMIT YOUR LOSSES - ALWAYS... CAPITAL PRESERVATION should be your No.1 Rule.
REMEMBER: Your BIGGEST LOSS is always in FRONT of YOU.
The BEST Loser always WINS
Best Regards
philtime
Either way BTC market structure is changing towards a bullish bias with a strong uptrend to recommence within the next week or two. This conclusion is further supported by evidence that the SPRING is in place and volume analysis indicates significant reduction in SUPPLY as retail interests have all but ceased selling as BTC has shifted from weak hands to the strong. It is noteworthy that BTC during this re-accumulation phase has not closed below 31500 on more than one day which is demonstrative of the big operators entering the market to buy strongly at this price level as they build their cause for higher prices to come.
Your constructive comments are very much welcomed.
The trend can be your enemy or your friend, just don't find yourself on the wrong side of it without an exit plan!
LIMIT YOUR LOSSES - ALWAYS... CAPITAL PRESERVATION should be your No.1 Rule.
REMEMBER: Your BIGGEST LOSS is always in FRONT of YOU.
The BEST Loser always WINS
Best Regards
philtime
Trade active
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