Obvious Wyckoff Structure in BTC/USD market

The pricing almost perfectly follows the textbook Wyckoff accumulation schematic.

A little too perfectly.

It makes me suspicious.

Comment:

The rally continued longer than I expected, but is neither here nor there in terms of the prediction. Far more interesting is that the price has come all the way back down to the $6800 range, and bounced from that resistance. If the price can continue back up higher than the previous high, then we are onto something really good here.

I have opened up a few long positions on this support, and have my fingers crossed!

Comment:

This is beginning to look like a failure now, unless we bounce from this level with enough strength to break the bull market sentiment - maybe something like this could still play out:

Comment:

*to break the BEAR market sentiment.

Typo in previous comment. Oops.