Continuing to track the same macro Falling Wedge pattern I've had on chart for this entire Wyckoff Accumulation phase, and BTC is still within in. At a more micro level, there is also an Ascending Triangle that's developed in the most recent leg on the 8-hour. The measured move for both the Wedge and the Triangle are approximately confluent depending on the breakout points in each, but one thing is clear - both of these structures a BULLISH. The top of the Ascending Triangle is also confluent with the Volume Point of Control (VPOC) at the moment.
Honestly, in this manipulated market, that isn't saying much, but based on the TA alone, Bitcoin is ramping up for a move finally above the top of the Wyckoff Trading Range. Could be a couple of days, it could be a week. It's clear Market Movers are still accumulating, and there won't be any moves until they're full.
Also, just a note on alot of the YouTube content I'm seeing this week. Beware of people telling you this thing is crashing below 20K. Is it possible? Sure. Anything can happen. But if we put our thinking caps on and look at what happened when BTC dropped below 30K last time, the buy pressure to scoop that up was INCREDIBLE. So even if BTC reverts to Spring levels, it won't last long. Remember it's these YouTuber's job to develop a drama so that you come back. They don't care about whether you make or lose money. They just want your lies. Proceed with caution always.
Honestly, in this manipulated market, that isn't saying much, but based on the TA alone, Bitcoin is ramping up for a move finally above the top of the Wyckoff Trading Range. Could be a couple of days, it could be a week. It's clear Market Movers are still accumulating, and there won't be any moves until they're full.
Also, just a note on alot of the YouTube content I'm seeing this week. Beware of people telling you this thing is crashing below 20K. Is it possible? Sure. Anything can happen. But if we put our thinking caps on and look at what happened when BTC dropped below 30K last time, the buy pressure to scoop that up was INCREDIBLE. So even if BTC reverts to Spring levels, it won't last long. Remember it's these YouTuber's job to develop a drama so that you come back. They don't care about whether you make or lose money. They just want your lies. Proceed with caution always.
