DickieWyckoff

Bitcoin Groundhog Day Re-Accumulation

Long
BITFINEX:BTCUSD   Bitcoin
Bitcoins painting a very similar re-accumulation phase just like before. Theres a very well defined BC and AR creating the TR, a ST and what appears to be a creek forming. I'm wary that there is a possibility that this is a little premature none the less something to keep in mind.

Volume is dropping, price range is narrowing, volatility dying and buying activity around the support level is solid. All good indications that this is re-accumulation.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.