Price action anlysis
The initial phase, likely Phase A, marked the stopping of the previous downtrend. The low reached around the 24th could be identified as a Selling Climax (SC) or a significant low. The subsequent rally to near the 25th then established an Automatic Rally (AR), defining the upper boundary of the initial trading range. A following decline that...
Price Action Analysis:
Observing the price action from May 23rd to May 26th, the chart suggests the development of a Wyckoff accumulation schematic. The initial phase, Phase A, marked the stopping of the previous downtrend. This began with a Selling Climax (SC), where price bottomed near the $107,3K level due to panic selling being absorbed by larger interests....
This comprehensive technical analysis offers a granular look into the recent trading activity of BTC/USDT. By dissecting the established market structure, various indicator signals, and crucial volume patterns, we aim to build a detailed picture of the forces at play and the evolving sentiment within this market.
1. The Bedrock: Established Bullish Structure and...
Taking in mind that this wyckoff distribution has been already executed i am waiting the reenter to the range to a new wyckoff re-accumulation using the weakness expressed for the RSI
Waiting HH to trade a Short in the re-enter range:
T1 : middle of the range - 25%
T2 : the other side of the range - 50%
After this stoploss to break and I will take partial profits in important support spots
