BTC/USDT According to Wyckoff Acc. consolidation then breakout

2021年7月31日

The last two times we covered BTC/USDT we talked about the Wyckoff accumulation and its different phases.
We now finally reached the last consolidation phase after another bullish night where the 41k$ was broken.
Now we expect some sort of consolidation before we make a brutal move to the upside.
The bears are getting rekt since the recovery from below 30k$.

Additionally we see a golden cross between the 50 and 200MA indicated by the yellow camera symbol.
We also see a consolidation of the RSI above the 50line which could act as a strong spring.

Take care and enjoy the ride.


Basic rules:
- Never buy the top/ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place

Enjoy the ride and don't be too greedy.
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Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers

ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.