Bitcoin wickoff

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
3905 16
Dear traders,

this is my opinion:

Bitcoin is going to finish a wick-off. Till so far it's 100% going this way.
If fomo is not too much, then this is the scenario.

Good trading Guys,

Bitcoin going as we thought in last video, nothing has changed, same wave count and targets, small update on what i think about it now.
Thanks !

I'm trying to think of something positive to say here, but what are you thinking? You say Wyckoff yet volume is nowhere to be found on your chart. Wyckoff analysis is all about price action AND volume. You absolutely CANNOT create an analysis without the volume. Wyckoff analysis is the understanding of how price action and volume create the footprints of the larger traders -- the ones who move the market. Wyckoff analysis is NOT the schematics that people google. Those are only used to explain the phases and give aspiring Wyckoffians an idea of generalized trading ranges. There are literally 1000s of possible trading range movements. Charts like this give a bad name to Wyckoff analysis and make new traders think that it doesn't work.

P.S: The TR you noted is actually most likely reaccumulation with uprise, not distribution. But not understanding price action and volume analysis, the very basis of the Wyckoff Method, is exactly why novice traders label it as distribution.
+1 Reply
henkybaby TexasWestCapital
@TexasWestCapital, I totally have to agree with TWC here. Typical case of missing the forest for seeing the outline of what might be a tree someone once saw the outline of.
Je_Buurman TexasWestCapital
@TexasWestCapital, that's what happens if one is ripping of someone elses experimental/study chart.. one can copy the lines but doesn't actually know why the original creator was doing it in the first place
Awesome chart. It literally fits completly with my bias
Allec nestay
@nestay, there is always a TA with other directions. For me this is a more chance option. But you can be right, sure. i am also calculating the chance and this wyckoff is a big chance of succeed. Thanx for your TA
+1 Reply
I'm long from below 9k, as you say don't think will go so fast, can scalp up and down for now. Also in case the 10K crew is right I'm positioned already (although I don't believe much in that, but this market is so tremendously manipulated that if the whales can agree on something it might be done). so far I think you're right because what we see is probably some walles fighting each other, or just plain distribution. If this is the case, I think we'll see BTC below 2K sooner than most would dare believe!
+1 Reply
Allec chocotraders
@chocotraders, i personally trade short 9200(center regression) and long 8828(bottom regression), zig/zag. This can go on for a week. 9000 is a bit tricky for a long
+1 Reply
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