If BTC is accumulating, we need another dip to 30k soon
Bitcoin / U.S. dollar BITSTAMP:BTCUSD
I am trying to apply the Wyckoff accumulation schematic to the BTC price action. I believe we could be accumulating as the phase A of the suggested schematic would correspond to the phase E of distribution of the last ATH cycle (from 30k to 69k). However, being in phase B currently, if the current PA is indeed doing Wyckoff accumulation then it needs to print an ST that is lower than the selling climax ( SC ). I think this is one of the strict requirements for the accumulation schematic to be correct. This would mean another swing down to $30k approx. in a week or two. Tell me what you think about that.
