Word Clarification: Bottom = "BASE" for Purpose of Accumulation.
I hope this publication helps my followers understand what I intend to convey with the word, "Bottom." If you're not clear about something in the future, simply ask and I'll do my best to clarify when I have the time.
Bitcoin History From 2011 to Present Day Using Wyckoff Method:
2012 Accumulation Schematic With Description of each Phase:
2015 Accumulation Schematic With Description of each Phase:
More information about Wyckoff Method can be found here: stockcharts.com...school/doku.php?id=chart_s...
Brief Explanation of Phases A, B, C and D in a Wyckoff Accumulatoin Schematic. Phase E is not covered in this video. Also, do NOT assume I'm saying the Price Action will play out exactly as depicted in the EXAMPLE provided in the video. It's ONLY an example...
When I say, "BOTTOM," that implies we have formed a "BASE" for the purpose of accumulation. In a Wyckoff accumulation schematic, we anticipate a drop on low volume just below the lower boundary of the trading range to identify our Wyckoff Spring. That Wyckoff Spring may begin at $2,868.65. Meaning, I do not expect us to go below that price point for our Wyckoff Spring in August/September. In the meantime, we will continue within a $1,000 trading range ( Between $3,200 and $4,200) for the purpose of accumulation. We should then expect a drop below the lower boundary ($3,200) to mark the beginning of a Wyckoff Spring that will lead into an Up-Thrust and Sign of Strength to $6k+. That drop below $3,200 is "NOT" what I consider bottom. When I say, "Bottom is in," I'm implying the Bear market of distribution IS OVER and we are now in accumulation before heading into a Sign of Strength and many months of Bull market.
The purpose of that video publication was ONLY to provide an explanation of events that occur within phases A, B, C and D. I did not get into Phase E in that publication. I think I said either in the video or in comments section below the video that I'm "not" saying the price action will play out exactly as depicted in that "example." It was "only" intended as an example of a Wyckoff Accumulation Schematic #1.
If anyone is asking what must NOT occur for this schematic to come to pass, I would say, we must NOT fall BELOW $2,868.65. If we fall below $3,122 WHILE staying above $2,868.65 on this next trip down, there's a good chance THAT move down may likely be our Wyckoff Spring and our accumulation is completed. Which would mean it will likely go up with a Sign of Strength to test $6k shortly after a move below $3,122 WHILE STAYING ABOVE $2,868.65.
I'm leaning more towards a drop below $3,122 not occurring until some time in August or September (shortly after the Litecoin Block halving) just as we did after the LiteCoin Block Halving in 2015. However, with the creation of OTC exchanges in 2018, this allowed large interest to accumulate large blocks of crypto much easier than in the past on retail exchanges. Which could explain a Wyckoff Spring occurring just BEFORE the LiteCoin Block Halving. Also, the fact we have falling well below the 200-EMA on the Weekly in 2019 more so than where we were in 2015 could also be a reason for a potential Wyckoff Spring occurring just BEFORE the LiteCoin Block Halving.
So yes, there are arguments that can be made to potentially support a Wyckoff Spring occurring just BEFORE the LiteCoin Block Halving. If we DO NOT fall below $3,122 on this next drop BEFORE the LiteCoin Block Halving and still go up for another Simple Rally to the Preliminary Support Range (around $4,200), we will likely fall back down for our Wyckoff Spring on that drop down to test support. That's also when I would expect a drop just below $3,122 WHILE REMAINING ABOVE $2,868.65.
Let me know if you would rather I created a video publication for it if this is not coming across in a way that can be easily understood. I'm not sure if I'm getting my point across or not.
A move substantially below $2,868.65 would INVALIDATE that schematic and also confirm we were still in "Distribution."
Bitcoin History From 2011 to Present Day Using Wyckoff Method:
2012 Accumulation Schematic With Description of each Phase:
2015 Accumulation Schematic With Description of each Phase:
More information about Wyckoff Method can be found here: stockcharts.com...school/doku.php?id=chart_s...
Brief Explanation of Phases A, B, C and D in a Wyckoff Accumulatoin Schematic. Phase E is not covered in this video. Also, do NOT assume I'm saying the Price Action will play out exactly as depicted in the EXAMPLE provided in the video. It's ONLY an example...
When I say, "BOTTOM," that implies we have formed a "BASE" for the purpose of accumulation. In a Wyckoff accumulation schematic, we anticipate a drop on low volume just below the lower boundary of the trading range to identify our Wyckoff Spring. That Wyckoff Spring may begin at $2,868.65. Meaning, I do not expect us to go below that price point for our Wyckoff Spring in August/September. In the meantime, we will continue within a $1,000 trading range ( Between $3,200 and $4,200) for the purpose of accumulation. We should then expect a drop below the lower boundary ($3,200) to mark the beginning of a Wyckoff Spring that will lead into an Up-Thrust and Sign of Strength to $6k+. That drop below $3,200 is "NOT" what I consider bottom. When I say, "Bottom is in," I'm implying the Bear market of distribution IS OVER and we are now in accumulation before heading into a Sign of Strength and many months of Bull market.
The purpose of that video publication was ONLY to provide an explanation of events that occur within phases A, B, C and D. I did not get into Phase E in that publication. I think I said either in the video or in comments section below the video that I'm "not" saying the price action will play out exactly as depicted in that "example." It was "only" intended as an example of a Wyckoff Accumulation Schematic #1.
If anyone is asking what must NOT occur for this schematic to come to pass, I would say, we must NOT fall BELOW $2,868.65. If we fall below $3,122 WHILE staying above $2,868.65 on this next trip down, there's a good chance THAT move down may likely be our Wyckoff Spring and our accumulation is completed. Which would mean it will likely go up with a Sign of Strength to test $6k shortly after a move below $3,122 WHILE STAYING ABOVE $2,868.65.
I'm leaning more towards a drop below $3,122 not occurring until some time in August or September (shortly after the Litecoin Block halving) just as we did after the LiteCoin Block Halving in 2015. However, with the creation of OTC exchanges in 2018, this allowed large interest to accumulate large blocks of crypto much easier than in the past on retail exchanges. Which could explain a Wyckoff Spring occurring just BEFORE the LiteCoin Block Halving. Also, the fact we have falling well below the 200-EMA on the Weekly in 2019 more so than where we were in 2015 could also be a reason for a potential Wyckoff Spring occurring just BEFORE the LiteCoin Block Halving.
So yes, there are arguments that can be made to potentially support a Wyckoff Spring occurring just BEFORE the LiteCoin Block Halving. If we DO NOT fall below $3,122 on this next drop BEFORE the LiteCoin Block Halving and still go up for another Simple Rally to the Preliminary Support Range (around $4,200), we will likely fall back down for our Wyckoff Spring on that drop down to test support. That's also when I would expect a drop just below $3,122 WHILE REMAINING ABOVE $2,868.65.
Let me know if you would rather I created a video publication for it if this is not coming across in a way that can be easily understood. I'm not sure if I'm getting my point across or not.
A move substantially below $2,868.65 would INVALIDATE that schematic and also confirm we were still in "Distribution."
I'll get with you then...
; )