Leaving the Wyckoff distribution structure. As per the previous posts & streams.
People where saying "guys a boomer", "FUD" and all the other good stuff. I've been Bullish since 2011 and my overall sentiment is long. But I have traded 21 years now and know a healthy sign of the Bull moves are areas to buy the dips.
If you look at the logic in this post, it's written out as a text book example. I would actually choose this to teach in the class room.
We have covered a lot of this logic & also have a slight insight into the world of Venture Capital - seeing various angles is never a bad way of seeing things. This is part of a healthy correction, well needed and will actually do the whole sector some good overall.
We have already issued some long calls for the larger time-frames.
Discord channel in the signature of the post, come join the conversation.
Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Is correction over now or do you expect the price to fall a bit more down?
KABHI_FOREX_TRADING
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Great analysis..
Mayfair_Ventures
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@vishvam-fx, Thank you kindly
dyas7233
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Very nice prediction and analysis. I know you already indicated a UTAD. Just wondering, do you see any possibility of another UTAD to a brief higher peak, before going down yet further into distribution?
Mayfair_Ventures
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@dyas7233, Morning, it's unlikely here. As I say the the people in our community, it's crypto - anything is possible. But in Wyckoff terms, it's unlikely to go that high again to drop. More likely to drop from this sort of range, then go up and make a new ATH. As in Elliott terms this is only weekly 3-4 move we are sat in.
I am interested in your educational content and considering subscribing. I just got burned pretty badly and would like to learn better risk management :)
@AtPercentageAotearoa, hi, it's a weekly Elliott move from 3-4. I posted another video on this. It's one of the methods we teach.
DestinyJV
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Impressive call. Was going to post another chart the other day to try and prove my own bias that around 41K was the end of the Elliot wave retracement C. But the Wyckoff schematic for beginning an accumulation phase was just not supporting that that theory. IMO, Wyckoff wins again!
@DestinyJV, Much appreciated! The Wyckoff move was all in the AR on this setup. I saw several posts that argued accumulation but had not accounted for a rapid AR move and instead used the first SOW as the AR which changed the distribution to accumulation (kind of) the next phase will be interesting to see a test or if it breaks straight back to the schematic range???