BTC/USDT According to Wyckoff Acc. consolidation then breakout
The last two times we covered BTC/USDT we talked about the Wyckoff accumulation and its different phases.
We now finally reached the last consolidation phase after another bullish night where the 41k$ was broken.
Now we expect some sort of consolidation before we make a brutal move to the upside.
The bears are getting rekt since the recovery from below 30k$.
Additionally we see a golden cross between the 50 and 200MA indicated by the yellow camera symbol.
We also see a consolidation of the RSI above the 50line which could act as a strong spring.
Take care and enjoy the ride.
Basic rules:
- Never buy the top/ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
We now finally reached the last consolidation phase after another bullish night where the 41k$ was broken.
Now we expect some sort of consolidation before we make a brutal move to the upside.
The bears are getting rekt since the recovery from below 30k$.
Additionally we see a golden cross between the 50 and 200MA indicated by the yellow camera symbol.
We also see a consolidation of the RSI above the 50line which could act as a strong spring.
Take care and enjoy the ride.
Basic rules:
- Never buy the top/ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
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