Tracking a Wyckoff Re-accumulation Pattern on BTC Daily Chart. This concept outlines how smart money "moneypulate" the market to fill their bags at a lower price by hunting liquidity and trapping other traders. If this pattern plays out there's a +25%climb back to ATH over the coming weeks, BTC Got a nice bounce right in a Fair Value Gap identified on the 4-hour chart, which also lies within a daily Fair value gap, It hit exactly! This is the potential spring of the Wyckoff re-accumulation pattern playing out where there is a lot of liquidity and support, just below is the neckline of the massive weekly reverse head and shoulder pattern, so a retest of the neckline - AKA this "Crash" is a normal move as price regularly(not always) will retest the breakout. Stochastic RSI was nicely reset on the bottom and oversold, and its possible there is a strong bounce from this area back to ATH and beyond. I Will continue to track this almost textbook looking pattern, Would love to know your thoughts on this!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.