BTC made friends with 3D 200MA

2022年4月24日

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.

2022年4月25日

註釋

Zoomed out version includes phases

2022年4月25日

註釋

🧠 Scenario 2 seems practical. "Reclaiming" as opposed to "found support at" the 200MA makes a better story for bullish continuation.

Also, institutions may feel more confident to invest during the familiar "smart money' phase if Scenario 2 plays out.

2022年6月15日

註釋

This played out well