BTC Wyckoff accumulation Schematic 2 - Moving as planned!

10月3日

BTC Update:

So since my analysis on BTC, price has delivered beautifully and exactly as anticipated from the forecast, having took the internal highs at 65K and into HTF supply from the prior weekly bearish leg and we had the bearish reaction from this area.

Price has pushed back into the daily range with a lovely bearish reaction, further fuelled by the FUD news, timed pretty much perfectly to the bearish momentum and downturn in the market as we sit in this accumulation range. However im not worried regarding the news as i see it as FUD in line with my wyckoff understanding.

In line with my USDT.D update also posted recently⁠, im still seeing a little downside risk in BTC and im expecting it to continue bearish and push down deeper into the levels marked up between 59K - 52K. This level is the discount of the accumulation range and the HTF weekly range and aligns with the weekly demand range, 3D demand range and daily demand range, alongside resting SSL to target at $57,500 in this area, making a prime reversal level and key level imo.

As im viewing this as a reaccumulation range, following wyckoff schematic 2 as shown, im looking at price to form a last point of support in this area and a bullish reversal to form and expand out of it as shown. This is my main idea and thesis so far as we continue to range here after the capitulation event. Now my idea could get invalidated at a later time but right now its aligning pretty perfectly alongside what im seeing on USDT.D in its distribution range and price doesn't have to take the lows again on BTC so don't be fooled into thinking it does as right now its not suggesting this and im not looking for it.

Patience is needed here as we need more price action to form to work with, but overall its looking great, i aint worried and my focus remains on the range.
As a result, i expect alts to continue to bleed and underperform, especially as BTC.D continues to push up into HTF supply and ETH is looking rather weak here with potential to take its lows again, which could end up being SMT divergence between ETH and BTC as it forms its bottom here over the coming weeks.

With Q4 just starting, im looking for the next expansion phase in the market to begin within this quarter, alongside the US elections next month which is typically a bullish event in the market! Its all aligning in my opinion for a bullish Q4 and Q1 of 2025, we just need to have patience here and not get shaken out in this range.

In addition to this China has started quantitive easing and their market has went on a massive bullish run the last week, with the US also easing up on interest rates cutting them by half a point, leaving investors able to acquire debt at a cheaper rate which typically fuels further bullish momentum in the market, as the M2 money supply increases too which i will delve into in another post.

Essentially as global money supply increases, money markets tend to also increase and ill break down this relationship in some other charts to show you just how correlated this is as its very interesting stuff.

The technicals are aligning with the macros and i think its shaping up to be a great Q4 and Q1 of 2025!

Dont be fooled by the first bearish tones to Q4, think of the monthly candle in terms of the PO3 Power of three formation, we have started the new monthly candle, forming the downside wick before the true expansion to the upside begins!