BitcoinMillio18

Bitcoin Wyckoff Update: Upthrust Event In The Making

Short
BINANCE:BTCUSDT   Bitcoin / TetherUS
Hi all,

Wyckoff accumulation schematics are playing out well until now. Price reached at the upper resistance level of the trading range at $40.841. I'm exiting all my positions now as we are entering an upthrust event, because this will not be a sustained breakout and will flip anytime down fast according to wyckoff accumulation schematics.

Red circles on the chart indicates huge absorbtion by the composite operator, but he is just getting started. That's why he will dump hard around $45k with a handsome 40% profit and buy back at the highs of $20k and then 5x to $100K.

Now it's time for me to step back and wait for a week or two, until price drops below 30k, because i'm a low risk type and prefer piece of mind over greed. I will be going all in after the spring type action occurs. Note that spring type action may not happen at all, but i think it will happen, because the Bitcoin composite operator loves freaking out fellow bitcoiners.

Remember, we cannot know if we are in accumulation or re-distribution until a sustained up or down trend starts. I'm betting for the uptrend, but a downtrend is also possible.

The longer we continue accumulation, the higher the destionation will be.

Stay tuned & safe.


Comment: Death cross update:
Comment:
Comment:
Order cancelled: If you are following this pattern, i'd like to warn you that accumulation is likely to invalidate and it can turn in to redistribution. Checkout my newer analysis.
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Comments

Thanks for the update
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Horrible graph definitely not a death cross
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Taking a look back at prior death crosses— weren’t they seen more often after the drop & not before?? This appears to be unique to this space, unlike stocks.
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I think there’s a possibility that we may pump up to 42-45k, that will really draw in a lot of FOMO retail investors. But the inevitable death cross looms and past cycles have shown a short lived pump during death cross. In the medium to long term, continuation of downtrend and that will freak the market out, possibly a sub 30 to shake out some HODLERs.
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Looks like composite man did his move to 41330 and now we are done. Still he knows the exact plan ;)
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you love phase B. don't you? lol
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hello there
please tell me how you get this wyckoff on the chart..
many thank you
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@lencoetzee, by drawing using polygon tool.
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mxn271 BitcoinMillio18
@BitcoinMillio18, ...The "drawing tool" is less important but you are not telling us how you come up with the frequency and amplitude of the zig-zags. Support and resistance levels understood, I am referring to all other zig-zags you have drawn. You are also not telling us how you calculate the duration of each Wyckoff Phase. Non of this kind of information is present in Wyckoff's paper. I made a comment about this before but somehow my comment went un-noticed and now I see it has disappeared. Would be nice if you could share this kind of information and it would add more credibility to your work. Thank you.
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@mxn271, as i said earlier, i used the schematics that can be found on google images and overlayed on the chart on an image editing software. Then i matched the events on the chart and this pattern evolved, but as i also wrote in my last analysis, wyckoff is not a pattern, it's a method. So, these lines are just guidelines, they will not happen on exact points in time and they have already started to deviate. That's why i'm updating it as price evolves. Take it as a directional guide.
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