Wyckoff BTC Dip Finished: Is a Move to $70K Next?

Hi r cryptocurrency,

After the last post was well received I thought I'd share some more thoughts on the market.

Inb4 this is astrology for men. With that out of the way let's continue.

I’m sure many are asking themselves if the dip is over and if we will see a bullish push to $71k.

Are we going to see another dip?

Let’s find out and see where we are in the BTC Wyckoff pattern and what onchain says about the current market.

Phase C completed. Next phase calls for $70k I’m surprised how well the Wyckoff re-accumulation overlay aligns with the current price action. (chart link)

The dip to $53k and the subsequent V-shaped price recovery marked the end of phase C.

Now comes the big question mark. Did we enter Phase D, and will we break above the upper blue resistance line?

One thing is certain. BTC should remain above $66k and maintain that level for the pattern to remain valid.

On the 1-day timeframe, you can see there was a lot of volume between $66k and $68k. I wrote a lot more about it and added charts and links this article.

Hope you found this useful.