It looks like the price has been comfortably hovering in the resistance pocked of $710 and $780 with no signs of slowing down.
I believe we're in Phase D of the Wyckoff Accumulation Schematic #2, getting ready to break out of the trading range.
I believe we're in Phase D of the Wyckoff Accumulation Schematic #2, getting ready to break out of the trading range.
Note
As expected - a nice bounce after yesterday's weak selloff.We're almost at the point of SOS in Phase D and breaking above the resistance level set by the AR at $717 and the HH at $780. Once we reach this phase and see the dip down I'll add to my position in preparation for a strong markup.
Note
Price broke out of the channel as expected. So what's next? We chop for a bit before we head to the final Phase E and the long-awaited markup.Note
Nothing to update, my zigzag drawing matches perfectly the pump.
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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.