Bitcoin Reaccumulation still in play
I saw sort of a similar idea on twitter a couple weeks ago and i found it very interesting so i started looking at it myself.
Even though there is alot of different wyckoff schematics, i picked out just a single one who looks alot like the bitcoin chart.
(notice the creek being formed right now)
In a re-accumulation it's important to look at the volume and the volatility of the market. At around 65k we had lots of volatility and volume (check volume indicator on the bottom of the chart). But when we came down towards ressitance and further formed the schematic, volatility and volume started to diminsh. We had one push up where we made a higher high and touched resistance (69k), where hardly any volume showed.
To confirm this schematic we will need to wait for a jump across the creek to form (with significant volume and volatility shown) & create significant higher highs then
65K & 69k.
Even though there is alot of different wyckoff schematics, i picked out just a single one who looks alot like the bitcoin chart.
(notice the creek being formed right now)
In a re-accumulation it's important to look at the volume and the volatility of the market. At around 65k we had lots of volatility and volume (check volume indicator on the bottom of the chart). But when we came down towards ressitance and further formed the schematic, volatility and volume started to diminsh. We had one push up where we made a higher high and touched resistance (69k), where hardly any volume showed.
To confirm this schematic we will need to wait for a jump across the creek to form (with significant volume and volatility shown) & create significant higher highs then
65K & 69k.
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