BTC Wyckoff Accumulation
Wyckoff Accumulation Pattern in Progress?
The current price action appears to align with a classic Wyckoff Accumulation schematic, suggesting the potential for a bullish reversal. Let’s break down the key elements visible in the chart:
Selling Climax (S): The sharp decline led to significant selling pressure, marking a temporary bottom as buyers stepped in.
Secondary Tests (ST-a & ST-b): The price revisited the support zone with reduced selling momentum, confirming the accumulation phase.
Spring: A potential "false breakdown" occurred, dipping below support to trigger stop-losses and shake out weak hands, followed by a rapid recovery back into the range.
Automatic Rally (AR): The initial reaction from the lows indicates buying strength, establishing the range's upper boundary.
Sign of Strength (SOS): Early signs of bullish momentum above key levels hint at a possible breakout.
One critical observation: the VWAP from the recent top and the Point of Control (POC) both converge around the $97,000 zone. This alignment strengthens the significance of this level as a major pivot point. A clean break above it could pave the way for a move toward the SOS phase, where price establishes a new uptrend.
Key Levels to Watch:
Support: $91,200 - $92,100 (Spring zone)
Resistance: $97,000 (POC/VWAP zone), $99,900 (SOS zone)
The projection (blue curve) anticipates a move toward the SOS phase, with price breaking through resistance zones to confirm the reversal. If the pattern holds, this could signal a strong upward trend.
As always, manage risk and consider multiple factors in your analysis. What’s your take on this potential Wyckoff setup? Let me know in the comments below!
The current price action appears to align with a classic Wyckoff Accumulation schematic, suggesting the potential for a bullish reversal. Let’s break down the key elements visible in the chart:
Selling Climax (S): The sharp decline led to significant selling pressure, marking a temporary bottom as buyers stepped in.
Secondary Tests (ST-a & ST-b): The price revisited the support zone with reduced selling momentum, confirming the accumulation phase.
Spring: A potential "false breakdown" occurred, dipping below support to trigger stop-losses and shake out weak hands, followed by a rapid recovery back into the range.
Automatic Rally (AR): The initial reaction from the lows indicates buying strength, establishing the range's upper boundary.
Sign of Strength (SOS): Early signs of bullish momentum above key levels hint at a possible breakout.
One critical observation: the VWAP from the recent top and the Point of Control (POC) both converge around the $97,000 zone. This alignment strengthens the significance of this level as a major pivot point. A clean break above it could pave the way for a move toward the SOS phase, where price establishes a new uptrend.
Key Levels to Watch:
Support: $91,200 - $92,100 (Spring zone)
Resistance: $97,000 (POC/VWAP zone), $99,900 (SOS zone)
The projection (blue curve) anticipates a move toward the SOS phase, with price breaking through resistance zones to confirm the reversal. If the pattern holds, this could signal a strong upward trend.
As always, manage risk and consider multiple factors in your analysis. What’s your take on this potential Wyckoff setup? Let me know in the comments below!
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.