BTC is is now in Phase B – defined by building a new “cause” where whales and institutional investors are buying and accumulating off of all the fear and FUD from the previous Wyckoff Distribution Schematic. We are already seeing positive news articles, green mining initiatives and overall more positive news in the cryptocurrency space. There is a potential for multiple ST’s or Secondary Tests near the selling climax, which was quite dramatic around the $30,000 levels.
Phase C we could see more sideways action or 1 final spring or shakeout as defined in the Wyckoff Accumulation Schematic #1. These present an excelling long / buy opportunity. A low test of support is preferred and can present an excelling long position. Also look out for LPS’s, pull backs to support that were previously resistance.
Phase D we should be looking for additional LPS’s i.e. Last Points of Support to enter long positions. Testing the resistance lines and showing signs of strength.
Phase E will be headed back towards all time highs with a price target around $58,000 and up.
As time goes on we can jump into a new phase earlier or later than expected, phase lines may need to be adjusted but if this schematic continues to evolve be sure to follow and give this post a like as I will post updates along thew way if this continues to play out.