BTC End of Accumulation? Target 16.2k

Sep 2, 2019

We are clearly in an huge accumulation phase right now after the run up to nearly 14k, is it over that is the question? 12.3k is my first large profit taking region, accumulation might be over but you never know for sure, the market doesn't care about what you think will happen so always take profits. The solid lines are untested levels where rejection will occur to some degree and the dashed lines are tested levels where price can go right through. Red are daily levels, blue are weekly and white are monthly. My entry was on the weekly level 9.4k and stop loss below the daily at 9k. Price has rejected nicely off the weekly at 9.4k a weekly rejection will target a weekly level, but the large resistance could stop us again. In past bull markets accumulation has lasted 4 months. Trade at your own risk!