PACE broke out of accumulation zone and into the new consolidation range.
Bottom of this consolidation range seems like the least risky level to open a long position with target marked by the 2.618 Fib.
For description of Wyckoffian terms/abbreviations (or generally more info on the method itself) please refer to Bruce Fraser's blog on StockCharts.
If BTC holds $44500 level (which would validate this analysis) this weekend we should see start of a strong mark-up monday.
BTC is following re-accumulation model (look at my previous ideas). Currently on it's way down to retest $42K climactic low in a spring test. Most likely target for this swing is $47-$48K. Remember that CO wants to accumulate at the bottom half of the range so another spring test is very likely.
I have noticed certain similarities between last Wyckoff distribution and a retracement of a run-up preceding it to a current situation.
I'll certainly be on a lookout for shortening of thrusts, any up-thrusts and breaking of Ice.
As of now, my previous idea's target of $40K ($42K currently, $40K would be reached on a spring test) has been reached. Here's a more optimistic fractal idea.
