Philly_yt

Wycoff Accumulation for Bitcoin

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
As stated before, several people believe the Wycoff Accumulation patter is playing out. So far, since yesterday we've seen the first leg up which could means we could see a retest of the $31'000 support level either today or tomorrow. To back a downward move before shooting to the upside, we could be seeing a Bearish Harami playing out in the 4H candlesticks , this isn't perfect but holds the same psychology. Another factor is that the MACD on the 1H timeframe is looking like it's about to tick bearish , which could back the momentum to the downside. The RSI looks to trend to the overbought territory on the 1H but looks pretty neutral on the 4H and is nearer the oversold territory on the Daily timeframe . BTC likes to do the unexpected so I personally wouldn't trade these moves with leverage, however I am just looking for entries for my HODL bag. *Not financial advice*

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