Long

BITCOIN: Phase B of Wyckoff Accumulation Schematic

Updated

Currently BTC appears to be travelling through phase B of the Wyckoff accumulation schematic. I did not pick up on this myself but thought I would share the chart with you. If this is true then we can expect plenty of sideways action and finally a breakout to the upside.
To find out more about the Wyckoff schematic please check this link.
https://school.stockcharts.com/doku.php?id=market_analysis%3Athe_wyckoff_method

Note

After checking the charts today I would like to share a possible scenario for BTC. This is just a guide if price action continued on to create a bearish channel (expect a lot more zig-zaging than in this chart), breaking down creating a bullish channel. After breaking up it will continue in original rising channel, break the wedge (red line) and run on to hit the Fibonacci 0.786 line. This would create a double cup and handle which I believe will be made out of lots of little cup and handles.
s3.tradingview.com/snapshots/x/xYA8AQ07.png
What do you think?

Note

Note

I took the time to map it more accurately...

veryfid

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