Using fractals along with Accumulation/Distribution.

So here I want to see how these fractals play out while also using the Accumulation/Distribution indicator. Its interesting to see the divergence on the indicator versus the price action marked by the red lines.

This is for theoretical purposes only. We are still in a bearish market but this could possibly be the beginning of some sideways action for a while. I wouldnt be surprised if we go furthur down in the near future. We really need 5500$ to hold if we do or else we are going a good way lower.

Maybe this divergence will be the clue that takes us to 7600$ and beyond.

Let's see how it plays out.

Comment:

We are pushing up again. Lets see if we can get to 7600-7700 range at first. Bitcoin has consistently fallen short of bullish retracement targets since we fell from 11.7k so I want to stay conservative.

Ideally I would like to see 7800-7900.

Comment:

Actually ideally I Want to see 8.3k but lets not get our hopes up just yet!

Comment:

Just revisiting this Idea to see note down how it ended up. Looks like 6400 remained the bottom for now. This was also right on a long term trendline.

Im glad to see my bullish target of 8.3k was hit.

So what can we learn from this last move?

The biggest clues to us going up again were the following:

- Shorts at all time high
- Ton of support under 6400.
- Right on the long term trend line.
- Classic Wyckoff Accumulation.

I hope this post was somewhat educational for those of you following me.

Comment:

Heres a better screenshot with the fractals drawn back in.