Bitcoin – accumulation in progress!

14.07.2022 5:46 pm

Hello, everyone!

Today I wanna show you the scenario which perfectly corresponds to my previous analysis, where I am waiting for the MACD bullish divergence on the 1D.

On the 4h timeframe BTCUSDT chart of the WhiteBit exchange we can see the potential Wyckoff accumulation structure. There is a perfect phase A with the change of character from downtrend to sideways. The price formed the range between the selling climax (SC) and automatic rally (AR) events. Now the price is in the most boring and calm phase B, but it’s about to end. The anticipated phase C corresponds to the manipulations. I expect the spring event which would be the perfect entry point. In conjunction with the MACD divergence it can give the strongest buy signal. Let’s observe the market if it will form the pointed scenario.

Good luck!

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