Wyckoff acccumulation on HBAR/BTC
This is an exercise on the Wyckoff accumulation. To be noted that price may retest the lower level of the range (at 382) before moving up.
To estimate the target, I used the counting Wyckoff method (not shown on the chart): .00000361 + (68 bars x 0.00000004 x 3) = .0000118
On the chart, I am showing a more conservative target at .00001 based on the Fibonacci extension of the range ( SC to AR).
I would note that the alts market in general looks in bullish mode against BTC and that the price of HBARBTC is above the EMA200, which would indicate a bullish trend .
To estimate the target, I used the counting Wyckoff method (not shown on the chart): .00000361 + (68 bars x 0.00000004 x 3) = .0000118
On the chart, I am showing a more conservative target at .00001 based on the Fibonacci extension of the range ( SC to AR).
I would note that the alts market in general looks in bullish mode against BTC and that the price of HBARBTC is above the EMA200, which would indicate a bullish trend .
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