Further "Support" We Are Forming a "Base" for Accumulation Range
I used my Phoenix TSI Long Cycle indicator for the purpose of providing further support that we have begun forming a "base" to establish a trading range. How "long" we remain in this trading range for the purpose of "accumulation" is unknown. It could last 12 months like it did in 2015. It could last as little as 3 months like it did in 2012 before we see a sign of strength and begin Phase E with multiple Re-Accumulation Events.
I have previous publications stating I see a decent chance of the Simple Rally to begin potentially on or around January 21, 2019.
I have previous publications stating I see a decent chance of the Simple Rally to begin potentially on or around January 21, 2019.
Comment:
Posting the following charts (below) for those who are new to my publications. Feel free to subscribe to my TV Channel for future updates. Those of you who have followed me a while are probably already familiar with the charts (below).
The following is a chart of BTCUSD from 2011 to Present Day on Bitstamp gives everyone a "visual" of the various Bitcoin Cycles we go through Using Wyckoff Method.
2012 Accumulation Schematic With Description of each Phase:
2015 Accumulation Schematic With Description of each Phase:
Present Day Accumulation Schematic With Description of each Phase in a VIDEO Publication providing a brief explanation of events occurring in each phase of an Accumulation Schematic. NOTE: The schematic in the publication (below) is ONLY AN EXAMPLE. The accumulation period may last as little as 3 months like 2012 or as long as a 12 months like it did in 2015.
The following is a chart of BTCUSD from 2011 to Present Day on Bitstamp gives everyone a "visual" of the various Bitcoin Cycles we go through Using Wyckoff Method.
2012 Accumulation Schematic With Description of each Phase:
2015 Accumulation Schematic With Description of each Phase:
Present Day Accumulation Schematic With Description of each Phase in a VIDEO Publication providing a brief explanation of events occurring in each phase of an Accumulation Schematic. NOTE: The schematic in the publication (below) is ONLY AN EXAMPLE. The accumulation period may last as little as 3 months like 2012 or as long as a 12 months like it did in 2015.
Comment:
The following comment is related to the chart below:
It's "possible" our period of accumulation may be as little as 3 to 6 months. WHY? Because LARGE Interest have access to OTC (Over The Counter) Markets to accumulate much easier than in previous periods of accumulation. In 2012 we did not have as many coins to accumulate as we do now. Hence, the reason why the period of Accumulation before Re-Accumulation in 2012 was only 3 months without OTC markets.
We had more coins in 2015 for that period of Accumulation to last as long as 12 months before we went up to multiple new highs with Re-Accumulation before reaching our "Buying Climax" and 12 months of "Distribution."
Yes, I drew some lines as an example of POSSIBLE price movement over the course of 12 months into the future. However, do not "assume" the price action will play out as depicted with those lines. Our accumulation period may last for only 3 to 6 months; in light of the information provided in the paragraphs above.
It's "possible" our period of accumulation may be as little as 3 to 6 months. WHY? Because LARGE Interest have access to OTC (Over The Counter) Markets to accumulate much easier than in previous periods of accumulation. In 2012 we did not have as many coins to accumulate as we do now. Hence, the reason why the period of Accumulation before Re-Accumulation in 2012 was only 3 months without OTC markets.
We had more coins in 2015 for that period of Accumulation to last as long as 12 months before we went up to multiple new highs with Re-Accumulation before reaching our "Buying Climax" and 12 months of "Distribution."
Yes, I drew some lines as an example of POSSIBLE price movement over the course of 12 months into the future. However, do not "assume" the price action will play out as depicted with those lines. Our accumulation period may last for only 3 to 6 months; in light of the information provided in the paragraphs above.
Comment:
For clarification:
When I said, "It's "possible" our period of accumulation may be as little as 3 to 6 months," that was referring to Phase A, B and C of a Wyckoff Accumulation Schematic. That did NOT include Phases D and E. Phase D may last 2 to 3 months and Phase E of multiple episodes of Re-Accumulation may last as long as 24 months before reaching a Buying Climax and falling into another "Distribution" Phase.
When I said, "It's "possible" our period of accumulation may be as little as 3 to 6 months," that was referring to Phase A, B and C of a Wyckoff Accumulation Schematic. That did NOT include Phases D and E. Phase D may last 2 to 3 months and Phase E of multiple episodes of Re-Accumulation may last as long as 24 months before reaching a Buying Climax and falling into another "Distribution" Phase.
Come on now.... 24 views and only one (1) like?
Is this information honestly not helpful?
I don't mean to sound like I'm complaining but don't you think it's worth a "like?" If you prefer to wait until AFTER you see a "Simple Rally" up to Preliminary Support level again, then that is understandable.
Happy Trading,
David