Continuing from earlier Wyckoff reaccumulation TA, if this formation is to be confirmed as reaccumulation then the price should not drop back into the trading range which conservatively is around 42k or less conservatively around 41k.
If it does then the price should absolutely NOT drop below the LPS otherwise the entire formation may be invalidated.
LPS is currently at confluence with the POC around 37.8k.
I am optimistic that the high volume wick to the trading range top should be the shadow that the price trades in for now.
If it does then the price should absolutely NOT drop below the LPS otherwise the entire formation may be invalidated.
LPS is currently at confluence with the POC around 37.8k.
I am optimistic that the high volume wick to the trading range top should be the shadow that the price trades in for now.