Subsequent time line of event will be updated below
Disclaimer- not n investing/trading recommendation
Comment: here is the macro picture
her is the wyckoff reacc in detailshttps://www.
Hi @sandipan.mch,
Based on your Wyckoff analysis, is BTC market weak or strong atm?
@hkh222, i feel reaccumulation is going on in that crypto major, but there must be a good correction to 7900s maybe, to test the supports before making the markup... what do u think atm?
cI8DH sandipan.mch
@sandipan.mch, I trust lines quite a lot. The log down trendline should not be taken lightly. We are close to it, so I expect (70% chance) a drop when we touch it. According to my half-baked theory, we are in phase 2 (pumping alts at the expense of BTC). When BTC starts outperforming alts, we go into phase 3 (alt distribution at high price). I think the operators will re-accumulate at a lower price (6.8 to 7.5k) and break the log down trendline with another symmetrical triangle having a strong support as the base of the triangle. I am curious to see a Wyckoff analysis from you considering the play between BTC and Alts. Perhaps, we can bake my half-baked theory together using Wyckoff theory.
@hkh222, sounds totally possible... we will have to see how it goes... i charted ethusd, there also a very strong reaccumulation after accumualtion is going on...
Yiah down trendlines are definitely significant.. lets see.. i have got a very low entry, so i a=can watch the fun happen comfortably, touchwood..
cI8DH sandipan.mch
@sandipan.mch, lol, enjoy the show. I closed my BTC at 8.4. Entered alts at low.
@hkh222, great btc sud be correcting very soon now.... u might get more good entries if that affects alts too...
cI8DH sandipan.mch
@sandipan.mch, it does affect, too much sometimes. I hope BTC correct well. I've been waiting for it ...

Is "narrowing spread" same as "rising wedge"?
@hkh222, not necessarily.... but looks like that most times.. yes...
cI8DH sandipan.mch
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