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BTC pump ahead

After a long accumulation/bear market phase, the BTC price seems to be recovering slowly reaching 48k USD for the first time this year.

Wyckoff Accumulation Schematic. Phase D. Retrieved via Trading View

In my previous posts I explain the dynamics of a Wyckoff Accumulation Schematic & the behaviour of the BTC accordingly. As for now, we are in phase D, that is characterized the consistent dominance of demand over supply. There are many advances in price and increasing volume (SOS), followed by reactions and drawbacks(LPSs).

In phase D, the price moves at least to the top of the trading range. LPSs in this phase are generally excellent places to initiate or add to profitable long positions.

WHAT TO EXPECT?

BTC is looking very bullish again. So expect a pump in the following months!

Market Cipher A & B. Retrieved via Trading View.

Market Cipher indicates a bullish trend. Firtly, we can see an expansion in the 8 EMA Ribbon (changing from gray to blue and white). The money flow wave is positive and increasingly growing (blue wave). Money flow is positive as well and WVAP (yellow wave) is also positive. In addition, Market Cipher A is signaling yellow diamonds which indicate a bullish continuation.

Fibonacci Retracement. Retrieved via Trading View

Based on Fib Retracements, we can expect the price to go to 49.1k USD, 53k USD, 60.5k USD, 69k USD, 79.8k USD & 93.7k if the bullish trend continues, obviously with retracements along the way. So get ready to HODL & take profits.

Love & light,

ML

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