Wychoff Phases
We have reached what appears to be a clear Selling Climax. We also have an "Automatic Rally" (AR) which occurs when intense selling pressure diminishes. This rally point helps describe an accumulation trading range (TR). We have seen this point tested in phase B and subsequently we can call it a clear resistance band. There is a test of support - Secondary Test(ST) of the upper support band - in phase B, however it does not reach the selling climax support area - and this should raise caution.
I look for a Spring event in phase C to be in the support area. We must be aware that a retest of support in Phase B is perfectly acceptable - and will likely fortell a test of the resistance band shortly thereafter. This is a possible scalp play inside of phase B. I project BTC will trade along the descending trend channel to a Spring retest of the Selling Climax support - leave Phase C and jump into Phase D quickly, with A very quick Build Up from the Last zone of support, to the resistance band and quickly-with high volume- move into an upward Build Up (BU).
I look for a Spring event in phase C to be in the support area. We must be aware that a retest of support in Phase B is perfectly acceptable - and will likely fortell a test of the resistance band shortly thereafter. This is a possible scalp play inside of phase B. I project BTC will trade along the descending trend channel to a Spring retest of the Selling Climax support - leave Phase C and jump into Phase D quickly, with A very quick Build Up from the Last zone of support, to the resistance band and quickly-with high volume- move into an upward Build Up (BU).
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