🚀 The Spring Has Sprung – Wyckoff Update 🌱
We’re right in the heart of the Wyckoff Accumulation schematic, and it's playing out beautifully. The spring phase is complete, we had the test and now we’re clearly seeing the markup phase.
Price has launched off after the test and is now targeting a return to the prior breakdown level—around $2800—which was the last structural high before the drop into the spring. Now to about 2850 is our first major resistance. I think it will break through before the first LPS, last point of support
📍 Key Levels:
Target: $3,200 (the global 618 retracement the next 3D OB)
Backtest Zone: $3,000 to to as low as $2,500
Max Pullback IMO: $2,300 (unlikely to go that low)
POC (Point of Control): right around current levels—this could serve as a backtest zone after the breakout.
Expecting a classic LPS last point of support) and then a Back-Up to the top Edge of the Creek
Where we are now...around the 50% mark of the trading range—lining up beautifully with the old POC which price is currently above.
📉 If you missed the spring, this LPS back test might be your second chance. or you could long the BO from here , which is a very bad trading plan IMO. or wait for the next pull back which might be around 2580 at the VWAP. maybe btc goes to 106.2 first. maybe it just keeps going to 3200. I'm cautious on adding to LONGS until 3200 is tapped. but you do you.
Let’s see how it plays out. Smart money appears to have already made its move.
We’re right in the heart of the Wyckoff Accumulation schematic, and it's playing out beautifully. The spring phase is complete, we had the test and now we’re clearly seeing the markup phase.
Price has launched off after the test and is now targeting a return to the prior breakdown level—around $2800—which was the last structural high before the drop into the spring. Now to about 2850 is our first major resistance. I think it will break through before the first LPS, last point of support
📍 Key Levels:
Target: $3,200 (the global 618 retracement the next 3D OB)
Backtest Zone: $3,000 to to as low as $2,500
Max Pullback IMO: $2,300 (unlikely to go that low)
POC (Point of Control): right around current levels—this could serve as a backtest zone after the breakout.
Expecting a classic LPS last point of support) and then a Back-Up to the top Edge of the Creek
Where we are now...around the 50% mark of the trading range—lining up beautifully with the old POC which price is currently above.
📉 If you missed the spring, this LPS back test might be your second chance. or you could long the BO from here , which is a very bad trading plan IMO. or wait for the next pull back which might be around 2580 at the VWAP. maybe btc goes to 106.2 first. maybe it just keeps going to 3200. I'm cautious on adding to LONGS until 3200 is tapped. but you do you.
Let’s see how it plays out. Smart money appears to have already made its move.
Note
maybe this. its defiantly looking like classic distribution. but can be accumulation for the spring then the bigger markup. we know there is a lot of buy opportunity at the tops as people get lock in gains and give up their eth. if BTC is going to go a lot higher. this price of ETH is cheap.
When I make a post, i will continually make updates while the PA is building and moving so you can follow my thinking. Follow for notifications. Boost and make comments to let me know you care.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
When I make a post, i will continually make updates while the PA is building and moving so you can follow my thinking. Follow for notifications. Boost and make comments to let me know you care.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.