BTCUSD - Wickoff analysis for the theoretically inclined

Just thought I would make a chart for those that are into Wickoff theory to point out one possible outcome of this phase of the market.

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As the scenario is starting to materialize, I expect a quick run down in the next few days/weeks that will get all the long stop losses positioned at the last low. A classical bear trap, should leave some room for a fast bounce as the new shorts get squeezed out of their positions. Wait for very high volume on a daily bar to confirm.

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This old chart from March looked far fetched back then but seems more and more accurate as time flies. We now want to see either a quick bounce off the red line or a spring taking out the lows. Either way I started buying in increments and will continue to do so until the 4500 area with a long term view.