Bitcoin
Long

Wyckoff Accumulation Phase

160
I think we may be in a Wyckoff Accumulation phase.

In the past, I have seen much sharper crashes to lower lows by now, has instead resulted in modest lows with sideways movement, and a surprising resilience of btc to follow trend lines. Even if temporarily going past a trend line, it will return back to the trend line.

Check out the Wyckoff schematic I drew in black, and compare with:
d.stockcharts.com/school/data/media/chart_school/market_analysis/wyckoff3/wyckoffaccumulation.png

I basically copied the Wyckoff schematic and aligned it with the recent price movement, and it appears to align pretty well for now.

I believe we are in phase B. If so we should see the lowest price point in phase C before the bull run.

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