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: $85,216.50 BTC 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!