BTCUSD - Wyckoff Method PSA - Re-accumulation Trading Range
#WyckoffMethod #TapeReading #BitcoinForecast
Bitcoin is trading in a re-accumulation local trading range. Price Structural Analysis tells us we are currently most likely in Phase C as price is 'testing the lows' of the trading range, forming and accumulation structure of which it is currently looking to breakout.
These characteristics of the price action are consistent with Phase C of the re-accumulation trading range.
From here I would like to see a Major SOS in the Active Trading Range, possibly in the form of a BUA at the neckline of the Active Trading Range. A breakout from this structure or similar in Phase D would then create a Point of Entry from which to execute an early first trade.
Bitcoin is trading in a re-accumulation local trading range. Price Structural Analysis tells us we are currently most likely in Phase C as price is 'testing the lows' of the trading range, forming and accumulation structure of which it is currently looking to breakout.
These characteristics of the price action are consistent with Phase C of the re-accumulation trading range.
From here I would like to see a Major SOS in the Active Trading Range, possibly in the form of a BUA at the neckline of the Active Trading Range. A breakout from this structure or similar in Phase D would then create a Point of Entry from which to execute an early first trade.