BTC.D still building up and 40K target remains.

2023년 5월 28일

Haven't shared this in a while. This is a 3D Wyckoff BTC.D Accumulation chart. And we have been in the final climax buildup zone for a while, and whenever we go to 3D Breakout resistance line at 49%, we dump and whenever we tap the Buildup Support line at 47%, we pump. So, nothing has changed from this perspective, and we can pump to 40K as per this.

Just to be clear I am not saying we will rally to 40K, it's just I have been tracking this chart since BTC entered the 3D build up zone and 40K is a target I had based on this chart and so far, nothing has changed.


Another interesting thing to note here is the volume divergence, In the chart to the bottom which shows btc price I have highlighted the Volume supported move in yellow lines and volume divergent moves in blue, the previous volume divergent move gave us a bottom at 15K, and we are again seeing the same volume divergence with this dump from 31K.

Again, this does not mean we are about to pump; the volume divergence can continue for a while (Weeks and months) there is no technical limit to it, but we usually see a pump if we see a level hold for a long time with volume divergence.



What is volume divergence?

Volume divergence takes place when we see volume in a downtrend when an asset is trending. So whatever trend the asset is in, up or down we want to see either volume go sideways or up with it , but if we start to see volume go down with a trending move , that's divergent volume , it means less and less people are willing to participate in the current trend which ultimately lead to complete exhaustion of people from the trend and a reversal follows with volume convergence.