BTC/USD Wyckoff Cycle Analysis Pt.2 LONG!!!
In December 2021 I published a Wyckoff Chart that predicted the exact day of the market bottom (In the attached Link).
This chart is showing how the accumulation has played out. The current price action sits in Phase D at the BU/ LPS which typically precedes a more substantial price mark-up. This will execute after the price is finished compressing we should expect a breakout to the upside as long as structure holds at 44k.
Price Targets have been placed at the all time high 50% Fibonacci and the 61.8% Fibonacci levels which both have confluence with the triangle chart patterns shown.
Entry: 45.8K
TP1: 50k
TP2: 55.1K
SL: 44k
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