Update on previous cheat sheet after the recent massive short squeeze on Bitcoin. Trendlines and support/resistance levels mostly unchanged.
We had a protracted Phase C second test followed by a move into Phase D which was confirmed after we broke out of the trendline at 33k.
Sign of strength came from a massive short squeeze as we broke through 35-36k.
This update reflects my optimistic view that we are able to break and hold above 41k shortly and build up enough momentum to break the most important line in crypto as coined by JordanLindsey, which will take us into Phase E of this Wyckoff Accumulation. I won't be surprised if we come back down to retest the 34-36k region first.
Will continue updating along the way. Likes, comments, constructive criticisms and cheers very much appreciated!
Inspired by:
bbrijesh
JordanLindsey
VincePrince
We had a protracted Phase C second test followed by a move into Phase D which was confirmed after we broke out of the trendline at 33k.
Sign of strength came from a massive short squeeze as we broke through 35-36k.
This update reflects my optimistic view that we are able to break and hold above 41k shortly and build up enough momentum to break the most important line in crypto as coined by JordanLindsey, which will take us into Phase E of this Wyckoff Accumulation. I won't be surprised if we come back down to retest the 34-36k region first.
Will continue updating along the way. Likes, comments, constructive criticisms and cheers very much appreciated!
Inspired by:
bbrijesh
JordanLindsey
VincePrince
Nota
The schematic for Phase D was a little off but the timing of the move into Phase E was spot on.I consider the Wyckoff Accumulation completed, as we move towards 50900 to complete Phase E.
On to the second phase of the 2021 crypto bull run my friends!
Penafian
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.