Technical analysis by WyckoffMode about Symbol BTC: Buy recommendation (3/1/2024)

Hi Everyone! This analysis focuses only on the 2-Week time frame. In particular, we are focused on the Level of the Red and Blue Lines within Phoenix Ascending indicator (By: WyckoffMode) and Bad Ass B-Bands (By: WyckoffMode).Two Important Historical Facts about the indicators in the 2-Week time frame:Historical Fact #1: BLUE TEXT BUBBLEEvery time "both" Red and Blue Lines rise above Aqua Level 90, wetend to see the price action push up to proximity of the Red UpperB-Band in this 2-Week time frame. Red Upper B-Band currently at$71,358 at this writing.Historical Fact #2: RED TEXT BUBBLEEvery time in history in which the Red Line is above Aqua Level 90;we can see the Aqua Upper B-Band hold as support on a pullback.However, there are times the price may fall further. In which case,the White Upper B-Band will generally hold as support during ourMacro Bull Trend.The Aqua Upper B-Band is currently sitting at $51,940 at this writingand the White Upper B-Band is currently sitting at $45,925. But alsokeep in mind the "Upper" B-Bands are currently "rising." I'm pointingout the Upper B-Bands are currently rising because if we were to seea pullback soon, it may not be the current 2-Week candle but couldpotentially pull back the "next" 2-Week candle. Well, the price ofthe White Upper and Aqua Upper B-Bands the "next" 2-Week candlewill be "higher" than what they are currently.The price of the Aqua Upper B-Band the next 2-Week candle may bearound $57,000 and the price of the White Upper B-Band the next2-Week candle may be around $49,900.I hope this video publication on the 2-Week time frame has been helpful.Happy Trading and Stay Awesome!DavidUPDATE:If you're curious where we are on my Wyckoff Method 2.0 Macro Accumulation Schematic; we are currently working on Sign of Strength event #2 in Phase E. We can have many Sign of Strength events in Phase E of Accumulation. Just as we can have many Sign of Weakness events in Phase E of Distribution in Wyckoff Method 2.0.The next chart is the chart I will be using once we finally get a 3-Day "close" above $73,000. The Fibonacci Tool used in this chart is "Based on Log Scale." The Fibs in the previous chart were NOT based on log scale. But this one is...UPDATE:Just to clarify... When I said, High probability to go up to the Red Upper B-Band, I would prefer to imply within PROXIMITY of the Red Upper B-Band. Which is to say it "could" be close but not quite to the Red Upper B-Band. I identified a few places in which we were in PROXIMITY but did not HIT the Red Upper B-Band in the 2-Week chart below:UPDATE:We have a chance to continue upward toward the Aqua Ascending Diagonal Line in proximity to $74,265. Will discuss in more detail after we get a new Daily candle approximately 4 hours from this writing.