BTC wyckoff acumulation Target over 7 k

Jun 18, 2018

This is short term analysis (next 7 days) that says price will come back above 7.2 K at least, but mid and long term looks bearish
(4h candle sitck)

Here is some of the theory:

The logic for ascending bottoms amid descending peaks is rooted in the
concept of the Composite operator. Within a trading range the composite
man is seen to accumulate a line of stock from the public who become
especially frightened during the down thrusts. The composite man is
willing to play the short side of the market as well during the trading
range of accumulation so long as he can abstract a public following of
sellers. But as the trading range proceeds, the new schematic reveals that
fewer and fewer sellers remain to propel stocks downward in price. As a
consequence, the down waves become shorter and shorter in length (the
bottoms rise) and the Composite Man as a result accumulates an
increasing line of stock. Ultimately there is little left of sellers to coax to
the downside and so the composite man reverses his attention and spurs
prices upward and out of the trading range. A markup campaign now
gets underway led by the composite man

Jun 20, 2018

Note

i updated target for this idea in the new analysis, 7056 as max then expecting 5600 target of the bear flag

Jul 14, 2018

Trade closed manually