BTC short-term analysis - An accumulation scenario

Nov 18, 2023

As I can see, it is possible that a range is going to be formed for BTC prices: range's low would be $35000 and range high is $38000. It's important to keep in mind that deviations from this range would happen because the aggressivity of buyers or sellers when news come.

My short-term scenario of preference is an accumulation following Wyckoff method. The main moves are presented in chart. The final target when accumulation will be done is 42000s (Fib 0.618). A rejection would happen at that level (42000s).

Please refer also to my mid-term and long-term analyses for BTC in the link below. To summerize:

• Short-term: Bullish
  
• Mid-term: Bearish
  
• Long-term: Bullish
  

Trading in the range is quite challenging so take care and good luck!

Disclaimer:
This analysis is based on my personnal views and is not a financial advice. Risk is under your control.

Nov 24, 2023

Note

Finally, after a week, BTC is now in the Supply area. I expect a rejection here, as planned:

Nov 26, 2023

Note

In my opinion, the rejection has been confirmed. I'm waiting for BTC at $34500- $35000 area for potential Longs.

Nov 29, 2023

Note

BTC retested the range high and is being rejected again. Here is my Short setup

Nov 29, 2023

Note

My TPs are: TP1 = 36000 TP2 = 35300 TP3= 34970

Nov 29, 2023

Trade closed manually

I close the Short and this analysis.
I'll update with a new one.
Thanks for reading.