BTC Weekly Analysis: Potential Bullish Continuation

Hello Traders!

Today, I'm sharing a detailed technical analysis of BTCUSDT on the weekly timeframe, highlighting key insights from two powerful indicators: Micro Dots with VMA Line and the Wyckoff Phase Oscillator.

Why These Indicators?

Micro Dots with VMA Line:
This indicator provides clear signals (strength and weakness dots) and dynamic trend lines, helping identify trend continuations and reversals.

Wyckoff Phase Oscillator:
Combines RSI, MACD, and OBV into one oscillator, clearly identifying market phases (Accumulation, Distribution, Markup, Markdown).

Technical Breakdown:

Price Action & Ichimoku Cloud:

• Current Price: $85,216.50
  
• BTC is trading above the Ichimoku Cloud, suggesting a bullish long-term trend.
  
• Strong support around $79,000 provided by Ichimoku Cloud.
  

Micro Dots with VMA Line:

• Micro Dots: Currently neutral (no clear bullish or bearish dots), indicating market indecision.
  
• VMA Line: Price is near the VMA line, acting as dynamic support. A bullish crossover above this line would strengthen bullish sentiment.
  

Wyckoff Phase Oscillator:

• Oscillator Reading: 33.21, just above the Accumulation Zone (29.33 - 29.29), suggesting a potential shift from Accumulation to Markup.
  
• Signal Line: Approaching a bullish crossover, indicating potential bullish momentum.
  
• OBV (Volume Confirmation): Stabilizing, indicating accumulation and potential bullish momentum.
  

Volume Analysis:

• Recent volume spikes suggest increased market interest, supporting potential bullish continuation.
  

Trade Idea & Targets:

• Scenario: Cautiously bullish continuation.
  
• Entry: Wait for a green bullish dot to confirm bullish momentum and crossover above VMA line.
  
• Stop-Loss: Below Ichimoku Cloud support (~$79,000).
  
• Take-Profit Targets: Primary target at recent highs ($101,821.96), secondary target at supply zone ($106,088.86).
  

Actionable Steps & Confirmations:

• Micro Dots: Wait for a green bullish dot to confirm bullish momentum.
  
• VMA Line: Look for bullish crossover above the VMA line.
  
• Wyckoff Oscillator: Confirm bullish crossover above the signal line, clearly entering Markup phase.
  
• Volume: Monitor for sustained or increasing volume.
  
• Risks & Considerations:
  
• Currently mixed signals (neutral Micro Dots, oscillator near accumulation) suggest caution. Maintain conservative position sizing until clearer bullish confirmations appear.
  

Strategy Type:
Momentum (trend-following) strategy is most appropriate, aiming to capitalize on potential bullish continuation.

Good luck and trade safely!