BTC Breaking Out?
Richard Wyckoff Method is a comprehensive market analysis technique that consist of laws, market structure (cycle) principles and trading approach.
There are many technique and strategies that track and analyse trends but few analyse the range itself that produce the trend.
Coupled with the core Law of Supply and Demand from Wyckoff Methodology, BTC showed that Supply has weaken and Demand gaining strength, in line with our Fund Flow indicator (FFI) observations.
After testing supply in phase C, we expect demand to continue building up from here and enter in Phase D, where we are likely to see a breakout of the range, 10,000 as breakout level (Creek).
Despite strength in demand, we continue to be open-minded and watch for any sign of supply.