This is the continuation of the previous post of the Wyckoff approach, link provided below.
With the weekly candle most likely closing bullish as is, it is a good indication that the buyers have come in and in the next week or 2 what seems to be accumulation, we will likely have a bullish breakout for this phase, as per this market life cycle.
Like my previous post of ETH, I see BTC potentially playing out the same schematic (3). There is no way to confirm it until it happens.
What makes me think its accumulation, then that is another discussion based on OnChain data.
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All the best,
S.SAri
PREVIOUS POST note: its not easy to align the bottom accumulation phase with the current scenario however I believe we are in the Spring phase and the test is going through now.
הערה
There is one left in my mind that there might be one more shake out to complete this version of the "SPRING".
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.