WYCKOFF CYCLE IN BTCUSDT
BTC is about to end it's phase D, and begin its mark up rally. Expecting the price to go till 49K within the end of this month.
To those who arent familiar with wyckoff cycle. Note how price reacted at the 34529 price level. When it broke the level, it came back in strongly with good volumes. Going with the basic economics, It tells how increased supply didnt affect the price and how quickly it came back to the level, showing sign of strength.
Abbreviations used:
PS -preliminary Support
SC - Selling climax
AR - Automatic rally
ST - Secondary tests
Spring - Quick fall back to the structure after the break down, reflecting demand.
To those who arent familiar with wyckoff cycle. Note how price reacted at the 34529 price level. When it broke the level, it came back in strongly with good volumes. Going with the basic economics, It tells how increased supply didnt affect the price and how quickly it came back to the level, showing sign of strength.
Abbreviations used:
PS -preliminary Support
SC - Selling climax
AR - Automatic rally
ST - Secondary tests
Spring - Quick fall back to the structure after the break down, reflecting demand.
Comment:
There is an Moving average death cross, which might lead to big fall, Please stay cautious. I got this one wrong, my apologies.