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...
- Let's consider the drop to 30,000 as an exception, or a way to make that the Distribution of de Wycoff fits in the triangle formed.
You have a bigger degree consolidation or accumulation highlighted by the green shaded box and a smaller degree one represented by the yellow box. Notice the breakdown, breakout and retest. Was reminded of my mentors quote "There are no accidents in price" Chart looks bullish and today's price action is promising. This one is in my shopping list. Plan your trade...
The range marked by the magenta lines comes across as a classic Wyckoff Reccumulation zone. The volume signature and the recent rally confirms the bullish view. A breakout past the higher end of the range and a successful re-test would get me interested in this stock from the long-side. Am watching this stock with interest.
My mentor would say there are no accidents in price and that is very apparent in this chart. Take a look at the weekly chart if you want to get some context for why price is getting into a trading range highlighted in this chart. The overall set-up looks bullish to me and I am keen to buy this stock. A breakout past 40 bucks will be a very healthy development...
Price seems to have completed a Wyckoff Spring in the hourly time frame. The stock is in a uptrend in the daily time frame. A breakout past the recent high of 185 would be a positive outcome and strengthen the case for the Wyckoff Spring argument. The occurrence of this Spring at the "Breakout-Retest" zone in the weekly & monthly time frame strengthens the bullish...