After BTC distributed over the weekend and turned immediately from distribution into reaccumulation there now could form a second accumulation model 1 or 2. I am looking for good confirmations below this current low for a possible long to the range high of the model. The technical price target for the reaccumulation model is the range high, but there also is supply at the top of the range, which got missed yesterday, so i would look out for that. If this does not work out i am looking for further deviations of the extreme points or simply a retest of a breakout/ breakdown of the range.
Note
The smaller accumulation model i was looking for got invalidated. Possible scenarios from here would be a reaccumulation model 2 from extreme liquidity (101.380$), a reaccumulation model 1 from below the range ( preferrably from the demand at 99.873$) or a breakdown already which i think is less likely since there is still supply which got missed and created liquidity.Trade closed: target reached
The model 2 i was looking for played out perfectly. I closed a little bit to late, but that is fine. After seeing this sharp sell off there is a possibility that the reaccumulation had the intention to create another deviation and extend the distribution i have already drawn on the chart.
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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.