BTCUSD: Discussion of Current Events Using Wyckoff Method 2.0
Hi Everyone! Simply wanted to point out where we are currently in our application of Wyckoff Method 2.0. At present, it appears we are much more at risk of seeing a Sign of Weakness in Phase E of Long Term Distribution rather than this being a period of Re-Accumulation. Is this a "flat statement?" No... It's POSSIBLE we may be in a period of Re-Accumulation but this is not confirmed yet. I also want you to be aware of the potential for this being a 2-Tier Re-Accumulation Schematic. Which is to say, "A Re-Accumulation Schematic with 2-Levels (Tiers) with one level used primarily for Re-Accumulation and the other Level used primarily for Liquidation." More clarity is provided in the video as to what I'm referring to. I also pointed out what our current support and resistance is when using the indicators in the 3-Day time frame. I also explained what to look for in regard to a potential move up toward the B-Band Basis in the 3-Day time frame. If we were to run up to the B-Band Basis in the 3-Day time frame fairly soon, it would be considered "over-extended" because of how low the Blue LSMA is currently in the 3-Day. Which means the odds would be quite high for that particular move being a "bull trap."
Happy Trading and Stay Awesome!
David
Happy Trading and Stay Awesome!
David
Comment:
Comment:
UPDATE:
Example of Accumulation Schematic with 2-Tiers (Levels) with the Upper Tier (Level) used primarily for Liquidation and the Lower Tier (Level) used primarily for Accumulation.
LTCUSD:
Example of Accumulation Schematic with 2-Tiers (Levels) with the Upper Tier (Level) used primarily for accumulation and the Lower Tier (Level) used primarily for Liquidation.
Example of Accumulation Schematic with 2-Tiers (Levels) with the Upper Tier (Level) used primarily for Liquidation and the Lower Tier (Level) used primarily for Accumulation.
LTCUSD:
Example of Accumulation Schematic with 2-Tiers (Levels) with the Upper Tier (Level) used primarily for accumulation and the Lower Tier (Level) used primarily for Liquidation.
Comment:
UPDATE:
BTCUSD: 4-Week time frame... I will explain this in more detail in a video in about an hour.
The Red RSI and Blue LSMA are still up quite high. Which means the Green Line may come back up again before the Red RSI and Blue LSMA can make it down to level 50. Remember: Each candle is a period of 4-WEEKS.
BTCUSD: 4-Week time frame... I will explain this in more detail in a video in about an hour.
The Red RSI and Blue LSMA are still up quite high. Which means the Green Line may come back up again before the Red RSI and Blue LSMA can make it down to level 50. Remember: Each candle is a period of 4-WEEKS.
