Bitcoin Signs of Accumulation on Low Timeframe
*Not financial advice*
Signs of a low timeframe wyckoff accumulation. Momentum is growing more bullish since the beginning of the trading range. Rising wedge (not drawn) is forming which could lead us back to the support lines formed by the Secondary Test (ST). Watch how price reacts when it approaches these support lines for signs of supply being absorbed. Tests can be good R:R for entries with stop loss at the low of the spring. If the price action breaks up through the resistance formed by the Automatic Reaction (AR) this would be a Sign of Strength (SOS).
Signs of a low timeframe wyckoff accumulation. Momentum is growing more bullish since the beginning of the trading range. Rising wedge (not drawn) is forming which could lead us back to the support lines formed by the Secondary Test (ST). Watch how price reacts when it approaches these support lines for signs of supply being absorbed. Tests can be good R:R for entries with stop loss at the low of the spring. If the price action breaks up through the resistance formed by the Automatic Reaction (AR) this would be a Sign of Strength (SOS).
Trade active:
Stop loss can be moved to bottom of LPS or ATR to ensure this trade is breakeven. If you're building a position wkyckoff suggests adding at LPS. Look for signs of absorption at green box.
Stop loss can be moved to bottom of LPS or ATR to ensure this trade is breakeven. If you're building a position wkyckoff suggests adding at LPS. Look for signs of absorption at green box.
Trade active:
The 3 largest red candles printed today are similar in size, but each subsequently has less volume.
The 3 largest red candles printed today are similar in size, but each subsequently has less volume.
Looking for longs in green boxes with tight stops. Confluence with liquidity order blocks, fibs, weekly S1 pivot. If the green box at $7,215 holds this could be a retest of the bullish breaker.