Bitcoin is In accumulation Zone ? Wyckoff model Btcusdt
It reflects the whole idea of a potential accumulation zone of 42-30k, which was put forward as the main one on June 4.
Very often I consider different models, both analysis and trading charts.
I can say that according to this model, the levels of $ 30,000 and $ 32,000 act as a large reference support zone
Secondly, if you notice on the daily timeframe, the price almost immediately returned back above the 32000 range. Starting from the 4-6-12 hour timeframe, the closing of trading was above the specified zone.
This model implies that a big player averages the price in this range, although what to write here, you can see everything for yourself.
Because at this moment it has already become obvious to many of these zones, let me remind you that the key resistance is the same; 38930 - 42190, and the support is; 28805 - 32180$.
Making an overview of this situation, I can say that all this is interpreted as a flat with a wide range of price movement, which partially confirms my hypothesis about lateral accumulation in the range of 30000-42000 and begins to take the form of a Wyckoff model... But this is not accurate, IT IS ONLY A HYPOTHESIS!!!!!!!!
And if we take this model into account and apply it on this segment , we can see that accumulation always implies an upward exit, and full confirmation of this will be if the price is pushed beyond the 42000 levels and left there to continue the price movement into the seller's block, where the goals will be 45000-48000.
But this is only a probability, because there are still many other models that tell me about a different outcome.
I will leave this model here to hear your opinion on this issue.
Very often I consider different models, both analysis and trading charts.
I can say that according to this model, the levels of $ 30,000 and $ 32,000 act as a large reference support zone
Secondly, if you notice on the daily timeframe, the price almost immediately returned back above the 32000 range. Starting from the 4-6-12 hour timeframe, the closing of trading was above the specified zone.
This model implies that a big player averages the price in this range, although what to write here, you can see everything for yourself.
Because at this moment it has already become obvious to many of these zones, let me remind you that the key resistance is the same; 38930 - 42190, and the support is; 28805 - 32180$.
Making an overview of this situation, I can say that all this is interpreted as a flat with a wide range of price movement, which partially confirms my hypothesis about lateral accumulation in the range of 30000-42000 and begins to take the form of a Wyckoff model... But this is not accurate, IT IS ONLY A HYPOTHESIS!!!!!!!!
And if we take this model into account and apply it on this segment , we can see that accumulation always implies an upward exit, and full confirmation of this will be if the price is pushed beyond the 42000 levels and left there to continue the price movement into the seller's block, where the goals will be 45000-48000.
But this is only a probability, because there are still many other models that tell me about a different outcome.
I will leave this model here to hear your opinion on this issue.
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