Below is the exact distribution chart I've written a lot about the Wakoff method, now we see one of the most standardized distributions, link tradingview.com/u/EXCAVO/[WYCKOFF] but if you open your eyes it's distribution for some and accumulation for others - now almost every week there are reports that Black Rock has more and more bitcoins - maybe all the bitcoins are just being transferred from other smaller agents. But the bottom line remains the same big players are here and they are going to make a lot of money. The cryptocurrency market is still a small 1.5 TRL $.
In my previous posts with fractals, I stayed with the opinion that we have a blue scenario - But this is not about fractals
But after analyzing the chart and seeing the wyckoff on it I couldn't help but share it with you - publishing this post doesn't mean I believe it, but the correction looks logical - the other question is how exactly it will happen with the renewal of local highs or not. Below I will show two distributions superimposed on the chart and they are slightly different
Whatever charts they show you on TV or other social networks, follow your trading plan, I buy back altcoins after 30% correction and wait for the final impulsive upward movement without extra passengers. I am not going to short All these charts are for you to think, and maybe it's just another horizontal correction and after it the upward movement will continue
Thanks for sharing your idea; I have the same idea; you shared it with a different method.
Gambling
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Thank you Sir, I suffer from FOMO as much as anyone and this is helpful!
CryptoTaoist
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Bitcoin can always go higher than you think and lower than you think. :) We may have a big thrust upward but the 25 day simple moving average crossing below the 50 day moving average is not particularly bullish for February. Also mildly bearish start to the month...with volatility still dropping hard, and a couple months hanging around this level, I expect neither a big move up nor down. Perhaps a retest of as low as 40k, highly doubt it breaks it this month. And not going above 44k either. Sold Feb 23 44k calls and Feb 23 40k puts. Comfortable.
simplejoe1
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has this been invalidated now?
Morteza_Loei
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nice analysis
CryptoEnchanted
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yes the volume is starting to confirm that
JoeRodTrades
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Really cool stuff man. I love to see Wyckoff stuff out there because I believe it works but, I also have my own methodology so hard to follow multiple ideas at once. Keep up the great work.
CBKWahoo
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I believe you are spot on, some unsuspecting people will yet get tricked again and are about to get wick'd off in similar fashion as the previous round of whipsaw liquidation events on the 9th and 11th of january. Both sides of the coin (leveraged traders) will be fooled again liquidated before continuation to the upside then will peak out around march from there get april fooled into the halving with media calling for 100k BTC again where the sell in may cliche will proceed. Rinse and repeat, then bitty will make a run at making new ATH late summer into October. Thats what I see at least from my perspective and what im seeing in the charts.
simplejoe1
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@CBKWahoo, so if you are right then best to just DCA until late summer?
CBKWahoo
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@simplejoe1, for each individual will be different everyone has their own particular situation trading styles investment goals and so on. what I see in the charts someone might see the total opposite. who knows if my idea is right or wrong only time will tell and don't take my comment for financial advice you do whats right for yourself