$BTC continues to appear a stretch (BC) after the first supply area appears, will the market continue to stretch or will there be a re-accumulation day like the cycle 10-2023, 2-2024?
Currently, we have confirmed that BTC is in a long-term uptrend phase, but in any uptrend of BTC with an increase of 15% or more from the BU area, BTC will appear a re-accumulation phase like in the uptrend cycles of BTC in 10-2023, 2-2024, 7-2023. And in the current period, we still have not seen the first re-accumulation border area of BTC (SC - AR according to Wickoff) after the supply area appears, will BTC re-accumulate tonight or will there continue to appear a stretch to surpass the peak of 93k?
Let's analyze the current situation, BTC has a similar pullback period in July 2023 with a sudden increase in liquidity compared to previous sessions and during that period BTC returned to the first sell-off zone and then re-accumulated for nearly a month before falling into a medium-term correction.
So the current scenario of BTC is repeating July 2023 when BTC also appeared a pullback period and the price is falling to the 88k zone and there is a high possibility that tonight the price will return to the 86-87k zone to create the first accumulation zone after a very strong price push of more than 20% from the BU zone (final supply and demand test) to create an accumulation zone to collect goods before entering the next price push phase. And this successful process will last from 3-4 weeks depending on the supply on the market. Current strategy is to wait for the reaction in the 86-87k zone to see if there is any demand to create the first accumulation zone to buy spot BTC in the re-accumulation zone of 86.87k-93k!
TH2....