BTC made friends with 3D 200MA
Bitcoin / USD BINANCEUS:BTCUSD
This BTC chart includes a distribution schematic for Wyckoff events and phases…
- Price failed to breakdown support in Phase D then began to develop additional support at the 200MA. Nice.
- The schematic may not be 100% accurate when it comes to placement levels and timing of phases but this correlation is interesting and worth watching.
🔮 Expecting 1/2 scenarios to play out.
Scenario 1
200MA holds and we a see a strong move upwards to confirm continuation.
Scenario 2
200MA fails as support and we test liquidity below. This can be quick or sustained throughout 2022. Price action around $25k range will be interesting.
