BLUF: Bitcoin likely breaking out above a descending parallel channel.
Assumption: Bitcoin has followed a more-traditional Wyckoff Distribution pattern while descending in parellel channel since its recent peak on 26 June.
Hypothesis: Bitcoin actually has been in Wyckoff Accumulation while descending in parallel channel since peak on 26 June.
Depicted: Two concurrent Wyckoff Accumulation phases, one yellow and one green, playing out in corresponding descending channels. The top of each channel represents a corresponding horizontal line were it drawn from Automatic Rally (AR) peak under normal circumstances, e.g., not in a descending channel. The bottom of each channel represents a line connecting Secondary Test (ST) to the typical ST in Phase B. Typically, this line has no relevance under normal circumstances. A yellow and a green horizontal dotted line are each drawn from their corresponding ST points to convey the accumulations similarity. A dotted white line is drawn to extend the top of the green channel.
Further Context: The longer green Accumulation has closely replicated the shorter yellow one, i.e., each yellow figure has a green counterpart. The pink dashed vertical line indicates the concurrent Selling Climax (SC) of both Accumulations, and the pink solid vertical line indicates the AR peak of both.
If the accumulation pattern holds, price will break above white line and hold. Subsequently, price will quickly return to $12k
Notable difference between yellow and green patterns: From AR start, the dotted yellow line has an upwards slope and dotted green line has a downwards slope.
Assumption: Bitcoin has followed a more-traditional Wyckoff Distribution pattern while descending in parellel channel since its recent peak on 26 June.
Hypothesis: Bitcoin actually has been in Wyckoff Accumulation while descending in parallel channel since peak on 26 June.
Depicted: Two concurrent Wyckoff Accumulation phases, one yellow and one green, playing out in corresponding descending channels. The top of each channel represents a corresponding horizontal line were it drawn from Automatic Rally (AR) peak under normal circumstances, e.g., not in a descending channel. The bottom of each channel represents a line connecting Secondary Test (ST) to the typical ST in Phase B. Typically, this line has no relevance under normal circumstances. A yellow and a green horizontal dotted line are each drawn from their corresponding ST points to convey the accumulations similarity. A dotted white line is drawn to extend the top of the green channel.
Further Context: The longer green Accumulation has closely replicated the shorter yellow one, i.e., each yellow figure has a green counterpart. The pink dashed vertical line indicates the concurrent Selling Climax (SC) of both Accumulations, and the pink solid vertical line indicates the AR peak of both.
If the accumulation pattern holds, price will break above white line and hold. Subsequently, price will quickly return to $12k
Notable difference between yellow and green patterns: From AR start, the dotted yellow line has an upwards slope and dotted green line has a downwards slope.
코멘트:
Looks like it held and now eyeing 8600.
