$NIO Wyckoff Accumulation – Schematic #1 or #2 in Play

My base case at the moment is Wyckoff Accumulation Schematic #2, where the Secondary Test (ST-B) could mark the very bottom. This idea will be validated for me especially if we see interaction with the High Time Frame Channel projection.

Green Zone:
We have multiple levels of confluence around this zone:

• 0.786 Fibonacci Retracement from the 2020 low to the 2021 top
  
• MO – Monthly Open level
  
• Volume cluster from previous local consolidation
  

Blue Zone:
If price drops as low as VAL, I expect it to be just a quick, volatile wick breaching into the Blue Zone.

High Time Frame Channel projection: