Just something to think about.
Note
Bitcoin x Wyckoff✅1) Need to flip that 1H - 200 EMA to Support
🟡2) Volume should start increasing as retail traders take positions.
🟥3) Price needs to get to the $43,000 Resistance Line
🟥4) Reversal is only confirmed with a huge Volume Spike... FireRocket
Note
Just updated the Wyckoff Schematic to be more detailed and precise...✅1) Need to flip that 1H - 200 EMA to Support
🟡2) Volume should start increasing as retail traders take positions.
🟥3) Price needs to get to the $43,000 Resistance Line
🟥4) Reversal is only confirmed with a huge Volume Spike... 🔥🚀
Note
As bullish volume expands, this is the phase of the Wyckoff schematic where traders will look to go Long.✅1) Need to flip that 1H - 200 EMA to Support
✅2) Volume should start increasing as retail traders take positions.
🟥3) Price needs to get to the $42,000 Resistance Line
🟥4) Reversal is only confirmed with a huge Volume Spike at Sign of Strength... 🔥🚀
Note
BITCOIN x Wyckoff Accumulation appears to have failed... 😭Only sign of hope is the lack of increasing Bear Volume in relation to price dropping. (Effort < Result)
Without Bullish Demand... the only chance of a reversal is a Short Squeeze by whales at $30,000...
Note
BITCOIN -- Supply and Demand ⚔ Battle Is Coming to a Close! (after 25 days of agony 😓) Volume in relation to Price (Effort and Result)... have shown that Bears 🐻 had no follow-thru and the Bulls 🐂 gave clues of accumulation with increasing volume spikes. 🐍✅1) Above 1H - 200 EMA to Support
✅2) Bullish volume increasing as retail traders take long positions.
🟥3) Price needs to get to the $42,000 Resistance Line
🟥4) Reversal is only confirmed with a huge Volume Spike at Sign of Strength... 🐍🔥🚀
🤪I can't believe it's been ranging sideways for nearly a month! (25 days to be precise.) I believe Bitcoin may take the lead, while the Altcoins may lag behind and range sideways for an extended time.
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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.