Bitcoin in reaccumulation stage - Wyckoff method
❓ What is reaccumulation? It is a trading range within a continuing uptrend.
🔸 Applying Wyckoff logic to the Bitcoin trading range gives us picture that shows reaccumulation after shakeout.
🔸 Absorption of supply happened in the trading range with strength and without violation of support.
🔸 The high of 10400+ and low of 7900+ (depending on the exchange you are trading on) might violate the common rules of Wyckoff reaccumulation. But conserning these volatile moves as a deviations out of the consolidation we see that the only purpose was to take liquidity. I believe that such wicks on Bitcoin are not of great importance.
🔸 A jump across the creek with the formation of SOS (sign of strength) will be a confirmation of an uptrend.
❗️ Reaccumulation can potentially have Spring action. Usually flat or sloping down formations have one.
🚫 Failing to get back quickly into the range after Spring will be a sign of weakness (SOW), that might lead price downwards.
🔸 Applying Wyckoff logic to the Bitcoin trading range gives us picture that shows reaccumulation after shakeout.
🔸 Absorption of supply happened in the trading range with strength and without violation of support.
🔸 The high of 10400+ and low of 7900+ (depending on the exchange you are trading on) might violate the common rules of Wyckoff reaccumulation. But conserning these volatile moves as a deviations out of the consolidation we see that the only purpose was to take liquidity. I believe that such wicks on Bitcoin are not of great importance.
🔸 A jump across the creek with the formation of SOS (sign of strength) will be a confirmation of an uptrend.
❗️ Reaccumulation can potentially have Spring action. Usually flat or sloping down formations have one.
🚫 Failing to get back quickly into the range after Spring will be a sign of weakness (SOW), that might lead price downwards.
Nota
✅ Chart update:Dagangan aktif
Following the previously outlined plan:Dagangan aktif
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.
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.