Technical analysis by learningedge about Symbol BTC: Buy recommendation (4/20/2025)

Hello Traders!Today, I'm sharing a detailed technical analysis of BTCUSDT on the weekly timeframe, highlighting key insights from two powerful indicators: Micro Dots with VMA Line and the Wyckoff Phase Oscillator.Why These Indicators?Micro Dots with VMA Line:This indicator provides clear signals (strength and weakness dots) and dynamic trend lines, helping identify trend continuations and reversals.Wyckoff Phase Oscillator:Combines RSI, MACD, and OBV into one oscillator, clearly identifying market phases (Accumulation, Distribution, Markup, Markdown).Technical Breakdown:Price Action & Ichimoku Cloud:Current Price: $85,216.50BTC is trading above the Ichimoku Cloud, suggesting a bullish long-term trend.Strong support around $79,000 provided by Ichimoku Cloud.Micro Dots with VMA Line:Micro Dots: Currently neutral (no clear bullish or bearish dots), indicating market indecision.VMA Line: Price is near the VMA line, acting as dynamic support. A bullish crossover above this line would strengthen bullish sentiment.Wyckoff Phase Oscillator:Oscillator Reading: 33.21, just above the Accumulation Zone (29.33 - 29.29), suggesting a potential shift from Accumulation to Markup.Signal Line: Approaching a bullish crossover, indicating potential bullish momentum.OBV (Volume Confirmation): Stabilizing, indicating accumulation and potential bullish momentum.Volume Analysis:Recent volume spikes suggest increased market interest, supporting potential bullish continuation.Trade Idea & Targets:Scenario: Cautiously bullish continuation.Entry: Wait for a green bullish dot to confirm bullish momentum and crossover above VMA line.Stop-Loss: Below Ichimoku Cloud support (~$79,000).Take-Profit Targets: Primary target at recent highs ($101,821.96), secondary target at supply zone ($106,088.86).Actionable Steps & Confirmations:Micro Dots: Wait for a green bullish dot to confirm bullish momentum.VMA Line: Look for bullish crossover above the VMA line.Wyckoff Oscillator: Confirm bullish crossover above the signal line, clearly entering Markup phase.Volume: Monitor for sustained or increasing volume.Risks & Considerations:Currently mixed signals (neutral Micro Dots, oscillator near accumulation) suggest caution. Maintain conservative position sizing until clearer bullish confirmations appear.Strategy Type:Momentum (trend-following) strategy is most appropriate, aiming to capitalize on potential bullish continuation.Good luck and trade safely!