Bitcoin Wyckoff Update With Point Of Control LevelsHi all,
I've updated the wyckoff schematics with more details and adjusted the levels. We have just had the secondary test in phase B. I'm expecting the upthrust event to happen early next week when the Previous Weeks Value Low (pwVAL) is hit. This level is the exact level we crashed from 52k!
My goal with this trade is to take profit at the upthrust and buy back at the spring event as i'm already fully invested in Bitcoin.
I used volume profile point of control (POC) indicator along with my support & resistance levels in this analysis. It basically marks important levels on the chart.
Colors:
Yellow: Weekly levels
Purple: Monthly levels
Cyan: Daily levels
Acronyms:
wOpen: Weekly open
pwVAH: Previous weekly value area high
pwPOC: Previous week's point of control
pmVAH: Previous value area high
pwVAL: Previous week's value area low
mOpen: Monthly open
pdVAH: Previous day value area high
dOpen: Daily open
dPOC: Daily point of control
In addition to that, i used Fibonacci Time Zone (vertical blue bars) for possible reversal timing. Note that these are not wyckoff phases.
I'm probably wrong, good luck!
