Welcome everyone! We are still in danger of another leg falling off. It is still too early to say that we endorse a cumulative reality. We need to see price action up towards $18,000 for it to be considered a minor rally in phase B of accumulation before we can say we have an opportunity to actually accumulate. For now, it doesn’t look like we’ll be getting a move up to $18,000 anywhere near. So we have to conclude that we are still facing a serious downside threat for a second sign of weakness in the E distribution phase. Another part in the distribution will take us at least to the $14,677 to $13,777 price range. However, it may drop further.
This was the last update for a while on any asset. I have a lot of work to do with important analysis projects/scripts I’m working on. So I will spend my precious time on these projects to get the premium subscriptions instead of posting updates here on TradingView and beyond Twitter .
Am I going to post the occasional update once every two weeks or so? Maybe… I haven’t decided yet. Bottom line: I have more important projects to attend to that require my undivided attention and valuable time.
Happy trading and stay great!
BTCUSD by WyckoffMode
– Technical Analysis – 2022-12-04 05:26:59 – Coinphony [SV]