BTC CHoCH - Bias; Re-accumulation Trading Range @ 4 Hour SMA
#Wyckoff #TrendAnalysis #BTCForecast
BTCUSD is currently in Phase A of of local re-accumulation trading range. Looking to initiate long position in Phase D of the current active range.
The location of the price is the first pullback / test of the spring in Phase C of the greater trading range.
I would like price to washout and test the spring with a deep retracement to the 'heckline' of the spring.
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COPY MPASTED FROM CHART:
Continuing on from yesterdays analysis
price is now retesting the 4 hour SMA
and an assumed 're-accumulation
active local trading' indicated in yellow
is under development.
At this point in time the 'automatic
reaction' (AR) is still underway. Completion of
the AR will occur when a secondary test of the
'buying climax' is achieved
BTCUSD is currently in Phase A of of local re-accumulation trading range. Looking to initiate long position in Phase D of the current active range.
The location of the price is the first pullback / test of the spring in Phase C of the greater trading range.
I would like price to washout and test the spring with a deep retracement to the 'heckline' of the spring.
_________________________________________________________________________________
COPY MPASTED FROM CHART:
Continuing on from yesterdays analysis
price is now retesting the 4 hour SMA
and an assumed 're-accumulation
active local trading' indicated in yellow
is under development.
At this point in time the 'automatic
reaction' (AR) is still underway. Completion of
the AR will occur when a secondary test of the
'buying climax' is achieved