BTC potential Wyckoff Accumulation Schematic playing out? Maybe
Updated
Incoming rally soon? Maybe.... This Wyckoff accumulation I have shown you isn't perfect but its damn near close enough. If you follow Wyckoff then BTC is currently in Phase C of accumulation. We also have GANN cycles & dates that point towards a big move coming on a few different days over the next week. FirstClass Crypto offers everyone a FREE 1 week trial for our trading group on discord and telegram for Bitmex & Binance trading.
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On the Bitmex chart (left) I have highlighted another potential for this Wyckoff accumulation phase where BTC will begin its climb from here coming from a diamond reversal.
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Sorry guys, realized my diamond was incorrect!
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Here is the updated Wyckoff Accumulation Schematic, as you can see price has moved in the direction where I told you from the past update and BTC is still on track for this to fully play out. I am looking to ladder into long positions throughout this green box but I also have a pending short sitting just below the weekly open incase BTC dumps. Covered from both sides and ready to get this profit! Premium members just closed out our scalp long for a nice 52% profit! Contact for a 1 week FREE TRAIL to FirstClass Crypto!!!!
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Ive updated my Wyckoff accumulation schematic #2, it appears this can still be a possibility with a nice double bottom. This second and recent touch down can be viewed as a bear trap / spring where the market makers accumulating sent the price below the symmetrical triangle to create last minute liquidity before the new uptrend begins. I have also outlined the short term bearish view here where we could see price get rejected from a test of the new resistance formed from the bottom of the symmetrical triangle. The safe play here is to wait for price to enter back inside of the symmetrical triangle and confirm support. If this is to happen I will then enter into long positions. Another way to go about this is to enter a short if price becomes rejected from the symmetrical triangle resistance where you can target the 1W SMA & EMA 200s.
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