Technical analysis by tapeshark about Symbol BTC: Buy recommendation (5/7/2024)

#WyckoffMethod #TapeReading #BitcoinForecastBitcoin is trading in a re-accumulation local trading range. Price Structural Analysis tells us we are currently most likely in Phase C as price is 'testing the lows' of the trading range, forming and accumulation structure of which it is currently looking to breakout.These characteristics of the price action are consistent with Phase C of the re-accumulation trading range.From here I would like to see a Major SOS in the Active Trading Range, possibly in the form of a BUA at the neckline of the Active Trading Range. A breakout from this structure or similar in Phase D would then create a Point of Entry from which to execute an early first trade.