Bitcoin / TetherUSShort
#Bitcoin Wyckoff Re-Accumulation Scenario Before $100k
Updated
Hi all,
I've shared Wyckoff Accumulation scenarios in my previous analysis, but there is another scenario in case the secondary re-test at 30k is successful.
That is the re-accumulation.
Re-accumulation occurs in long term up trends resulting with continuation. Given we are in a bull market and just in the middle of the bull run, it is more likely to happen than a breakdown below 30k.
Currently we have just had a climactic selling action with huge volume, followed by the selling climax as low as $31.111 following a bounce ending at $40.841 which is now the top of our trading range for the re-accumulation period. Automatic rally (AR) will follow down towards 30k and this area will be re-tested.
I believe 30k will hold, given the bull market, however if it breaks down my accumulation scenarios come in to play.
Notice that even when 30k holds, it will be re-tested multiple times and there will be a beartrap / spring / shakeout moment in the end in order to determine #Bitcoin's readiness to move. We can go down as low as $28.130 within few minutes, with low volume, hunting all stop losses and this will be the start of the new markup / uptrend towards
83K+ by mid August and a new distribution play will begin, topping around 100k
So, until the shakeout moment, we will be trading between $40.841 and $31.111 probably hovering around $30.322 and $28.130 as the dip of the shakeout.
Wow, what a setup in play!
Further reading:
school.stockcharts.com/doku.php?id=market_analysis:the_wyckoff_method
I've shared Wyckoff Accumulation scenarios in my previous analysis, but there is another scenario in case the secondary re-test at 30k is successful.
That is the re-accumulation.
Re-accumulation occurs in long term up trends resulting with continuation. Given we are in a bull market and just in the middle of the bull run, it is more likely to happen than a breakdown below 30k.
Currently we have just had a climactic selling action with huge volume, followed by the selling climax as low as $31.111 following a bounce ending at $40.841 which is now the top of our trading range for the re-accumulation period. Automatic rally (AR) will follow down towards 30k and this area will be re-tested.
I believe 30k will hold, given the bull market, however if it breaks down my accumulation scenarios come in to play.
Notice that even when 30k holds, it will be re-tested multiple times and there will be a beartrap / spring / shakeout moment in the end in order to determine #Bitcoin's readiness to move. We can go down as low as $28.130 within few minutes, with low volume, hunting all stop losses and this will be the start of the new markup / uptrend towards
83K+ by mid August and a new distribution play will begin, topping around 100kSo, until the shakeout moment, we will be trading between $40.841 and $31.111 probably hovering around $30.322 and $28.130 as the dip of the shakeout.
Wow, what a setup in play!
Further reading:
school.stockcharts.com/doku.php?id=market_analysis:the_wyckoff_method
Note
Checkout my updated analysis here 
Protect your Bitcoin investment with our realtime alerts and fully automate your trading. No more sleepless nights, black swans, rug pulls, whale pump & dumps or getting sidelined.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.