I have been tracking the BTC.D Wyckoff Accumulation 3 Days Chart since last year and have posted its progress through all the Wyckoff Phases regularly.
It's time for another update on this.
So, in my last update we have seen BTC.D break up from the Accumulation zone and hit first resistance. Now it has come back down to test the Breakout zone.
As per the Wyckoff model, this is where the actual breakout happens.
Also, I have highlighted that BTC.D has been moving up in an upwards parallel channel and you can see what happens to BTC when BTC.D taps the lower edge of the parallel channel.
It has tapped the lower edge three times in the past since the 15K bottom which resulted in an average move of approx 45% in coming days and weeks. If this pattern continues, we should see 38K BTC very soon.
It's time for another update on this.
So, in my last update we have seen BTC.D break up from the Accumulation zone and hit first resistance. Now it has come back down to test the Breakout zone.
As per the Wyckoff model, this is where the actual breakout happens.
Also, I have highlighted that BTC.D has been moving up in an upwards parallel channel and you can see what happens to BTC when BTC.D taps the lower edge of the parallel channel.
It has tapped the lower edge three times in the past since the 15K bottom which resulted in an average move of approx 45% in coming days and weeks. If this pattern continues, we should see 38K BTC very soon.
