Hello, my dear friends! Let's take a look at the price movement of BTC from the point of Wyckoff Method !💡
In the rectangle you can find an approximate scheme of accumulation - distribution (The Wyckoff Method), and I highlighted its application in ovals for an illustrative example.
A bit of history below (for a clearer understanding)👇
According to Wyckoff, the market can be understood and anticipated through detailed analysis of supply and demand, which can be ascertained from studying price action, volume and time. As a broker, he was in a position to observe the activities of highly successful individuals and groups who dominated specific issues; consequently, he was able to decipher, via the use of what he called vertical (bar) and figure (Point and Figure) charts, the future intentions of those large interests. An idealized schematic of how he conceptualized the large interests' preparation for and execution of bull and bear markets is depicted in the figure below. The time to enter long orders is towards the end of the preparation for a price markup or bull market (accumulation of large lines of stock), while the time to initiate short positions is at the end of the preparation for price markdown.
Don't rush to run long on Bitcoin yet, it's likely, that the growth will continue, but now we need to get confirmation!
In the meantime, the altcoin season continues🚀
I hope you were interested😉 Don't forget to subscribe😊 And stay with me forever♥️
@RocketBomb, Hii rocket bomb been an avid silent follower and you are definitely doing a good job. I also am doing my own TA concerning altcoins, but if I may ask what altcoins do you see going up soon?
kkrypto.be
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@nokamone06,
check my latest posts on VET & XLM.
But me as well is worried about correlation BTC - ALTS.
I agree with rocketB but I see altseason end of MArch begin April.
We will see ...
Mirror_Riker
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Alts are stagnating due to Btc corrections. Don't see them pumping like one month before. Any prediction when alts are REALLY going to pump (and not following Btc volatile corrections)?
TradingYoda64
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@Mirror_Riker, Probably in the peak mania phase, just before the big crash.
Hmongpress
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BTC is overbought and at the very top of it. It could drop anytime now but there is not enough supply in exchange to cause a mass sell-off. Any sell-off below 50k will end up at the hands of the
institutions.