-Considering the shrinking volume on the Signs of Weakness' in Phase B, I assume we are in the Distribution Schematic #1 -Also, look at the Distribution Schematic #1, it is nearly identical with our BTC situation Thanks for taking a look, please PM me if you are a fellow Wyckoffian so we can share ideas!
Even before the tragic news which caused a mass sell-off, price action already exhibiting simplified similarity to schematics of Wyckoff distribution. Bulls rallied all the way up into previous support zone until close of trading on the 5th of April. With RSI showing exhaustion and potential loss of confidence following the April fools tweet from Elon Musk this...
Distribution might still be intact.. Trapping the bears who shorted at supply line and trapping the bulls on the breakout..
Wyckoff Distribution + H/S near macro supply line.. Yes i've been shorting this but this is not financial advise and just my opinion..
Wyckoff Distribution + H/S near macro supply line.. Yes i've been shorting this but this is not financial advise and just my opinion..
BTC is in a big symmetrical triangle (Yellow lines) I am now more convinced the current trading range is a distribution schematic.. Mainly because of the volume that comes with these red dongers (Sign of weakness). Everytime we hit the supply line btc 0.85% takes a dive south and find temporary support at the bottom of the trading range.. We might test the...
The US Dollar has been in distribution with large speculators unwinding their net long positions (COT Report) that had been building since mid 2000. Currently the longs and shorts are matching each other and there is no commitment in the US Dollar. The volume signature has also decreased. The correlation with the 10 year bond yields has also shown a significant...
For re-distribution, Phase A will resemble the Phase A of Wyckoffian Accumulation. Phases B-E will resemble normal distribution
Hello fellow crypto traders!! Let me get right into it! Bitcoin prices has been dropping since it's all time high top. Coincidentally (or not), the all time high date was the day that CME futures started. From then, we have so far dropped from 20k down to 6k and bounced. But that bounce had retraced quite a bit and it seems that BTC is heading further down from...
I find ETC USD chart abnormally similar to text book distribution phase. Everything is presented on a chart. This is only my opinion, use it, or not.
Amazon has rallied for 15 weeks into last week's close after accumulating at the mode back this past fall for 15 weeks. In other words: Amazon has "run out of time". Once Amazon blasted off on its previous earnings report back in October, it kicked off a 15 week rally which ran far beyond the rally that was implied by the previous move from $766 (where it...
BTCUSD is in the last phase before a further move down. If the price cannot get above the ICE, the price will fall further. See the Attached YouTube video on distribution to explain the concept. www.youtube.com
The breakdown of the XRPUSD from the big speculative top formation is readily apparent from the chart. The market is driving towards the weak long holders' stop order pool to wash out weak longs. Until those trapped weak longs are washed out, we are not going to see price rallying above 2.4 dollar mark. What I am looking for is a accumulation pattern below 1.4...
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NOTE: I am not actually in a short position as I really dislike shorting bitcoin at times like this. It is a risky maneuver especially since Bitcoin often rallies hard to the surprise of many. I have just sold all my Bitcoin holdings which I have held since earlier this year. 2017 has been an amazing rally for Bitcoin with almost 100x growth. With the opening...
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