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...
Wyckoff developed a price action market theory which is still a leading principle in today's trading practice.
The Wyckoff method states that the price cycle of a traded instrument consists of 4 stages – Accumulation, Markup, Distribution, and MarkDown.
The indices may give a 1000 point push beyond day high but we need to look for strength beyond this level. On the flip side any weakness below the spring may take us to 18000 or lower.
CNX Finance : A simple wyckoff analysis , would have given some clue on the mayhem.
Just follow the simple trend line .... @ 11862, the uptrend stopped falling short of supporting the over bought line..
Now it is at the support . can can expect a bounce.... but should detract and continue the downtrend....