Accumulation on Bitcoin continue. I told you about potential Wyckoff accumulation here. We can see the trading range is forming now. It looks like the lower band of accumulation trading range is at the $46500. The higher band is anticipated at $52000. I suppose that the price now is going to test resistance line. The breakout probability is low this time – market need more accumulation to start relief rally.
The Big Guy indicator help us to see the whale’s purchases. They did it twice at the lower band. The probability that the current range is the Wyckoff accumulation increased due to this fact.
Bitcoin – accumulation in progress
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