Bitcoin is in an 7K (about 35%) range since 150 days now, and just broke to the downside.
Could this be the spring of an Wyckoff accumulation schematic?
It is no secret that price action has been choppy ever since it entered the trade range, has to shake most people out.
Of course, for this to be an spring we'd need big buyers stepping in, and defying all of...
An uptrend inside of a channel, succeeded with a breakout of that said channel is a great way to shake both ways (longs & shorts), in order to grab liquidity;
1- Uptrend to bring in new longs.
2- Liquidity grab on the upside to bring in late longs & shake shorts out
3- Knife that'll shake out every longs that were comfortably in profits form the uptrend....
Back over in the broadening wedge range, BTC should move in sympathy with traditional market (and inverse $DXY) as to make new local highs, over 25K$
Most late long Open Interest was wipe down on the last leg down to 19.8K and lots of late shorts opened all throughout the last move
First target: 28K
Second target: 36K
A clear pattern of Wyckoff accumulation is setting up on BTC, that would put price at the end of the spring.
This would mean BTC price would get to touch the other side of the range to then break out above 25K$
Bitcoin may be starting to draw out a wyckoff accumulation zone, wich could potentially make us visit 25k in a breakout to the downside that'd be the spring to make us fly till ATH.
