BTCUSD Wyckoff accumulation H1

BTC/USD COINBASE:BTCUSD

majql

On BTCUSD H1 timeframe the typical Wyckoff accumulation is starting to build up.

After establishing a preliminary support (PS) at 29.7k, the price dropped to 25.3k creating a selling climax ( SC ) and breaking through the support zone (marked in violet).
After that we had automatic rally (AR) and a series of secondary tests (ST).
That means that the price should still drop to 27-28k to create a spring for further growth.

This is further support by the creation of bear flag .

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