Cymoongale

Cymoongale

Theres a possible Bear flag formed on BTC with a historical support now turned resistance. The S/R line has been important in the past as it was the retest that kicked off the last major bull run and also caused the spring in July when we broke below it. This is a word of caution as most peoe are looking at the pennant that has formed and the FOMO might kick. I...

Cymoongale

This is a follow up from my last chart this includes the involvement of a LPSY LPSY — last point of supply. After testing support on a SOW, a feeble rally on narrow spread shows that the market is having considerable difficulty advancing. This inability to rally may be due to weak demand, substantial supply or both. LPSYs represent exhaustion of demand and the...

Cymoongale

Bitcoin has been ranging for a year now. this is typical of wyckoff distribution. Regardless of schematics working perfectly to a diagram. These are the signs of distribution I look for. The key areas to be aware of are: Volume, does it rise on supply, is there a response to attempts to push the price back up? Is there a clear buying climax to begin your trading...

Cymoongale

This is the same as my previous BTC Wyckoff Reaccumulation but with a higher creek and lps

Cymoongale

Is this what we could possibly see over the next 2 weeks? reaccumulation usually can last between 3/6 weeks. as this started the beginning of September I'm very bullish for Q4. after all it is the most bullish quarter in the most bullish year in the BTC 4 year cycle historically (A Reaccumulation serves the same purpose as an Accumulation with one main...

Cymoongale

Wyckoff Accumulation with charts patterns overlaid might help with timing

Cymoongale

Bitcoin Wyckoff Accumulation for a blow off top by April 2022. Quite funny looking back that the B word was during Phase C. hmmm

Cymoongale

BTC Wyckoff Accumulation model for a blow off top by April 2022

Cymoongale

I personally think we could be seeing something like this in the coming weeks for btc. I have added a spring as people are expecting a September sell off as historically September hasn't been a great gainer for BTC (A Reaccumulation serves the same purpose as an Accumulation with one main distinction. An Accumulation stops a downtrend as the Composite Operator...