Bitcoin Wyckoffian Accumulation Schematic on Daily Timeframe!

in #trading3 years ago


On the Daily timeframe, we can see an accumulation schematic playing out. We first had a climatic volume spike around mid may this year and there were clear signs of diminishing supply as the money is being transferred from weak to strong hands. However, there is a huge pool of liquidity (equal lows below where many traders have placed stoplosses) that is just waiting to be taken out, so we might still see a drop below those lows as the final spring in the schematic before the next big bullish run.

Let's see what happens, but expect a drop in the next following days and be alert.