I promised an update to my Wyckoff study of Bitcoin, and with the recent Alert from Glassnode that the balance of BTC on Exchanges is at a 3 year low, I feel we can plot another waypoint on the course towards Wyckoff Distribution. That is, we haven't reached the point of Preliminary Supply (PSY) yet, but this correction is likely the predictive marker that it is next.
Wyckoff accumulation schematic.
We are currently in Phase B. (We arrived from a daily distribution schematic)
I'm expecting a spring formed that catches the liquidity below the equal lows and below the selling climax.
Only After that, I can see BTC recovering to at least 50k per coin.
Right Now I am still holding my BTC and will add more with this liquidity scoop...
Idea is based on Wyckoff theory. Although the price action has elements of distribution present (e.g. the lower low on the secondary test in phase B which could indicate a minor sign of weakness), I believe a more probable scenario is that we are currently still in an accumulation phase. Price held at the selling climax level and both supply and downward result...
This Idea is based on Wyckoff's theory. Considering the current bearish sentiment in the markets, it is from a contrarian perspective not improbable that we are actually in an accumulation phase indicating significantly more upside for Tech stocks and the Nasdaq. Also, this aligns with my previous long term analysis of the VIX which indicates that the current bull...
Due to recent events of an unprecedented and MASSIVE rally to the upside on the test level buy order block at 1721, are we finally at the dawn of that long ride towards the +2000s again ?
Daddy Wyckoff seems to agree to that so far ...
Those of you who know me know I **LOVE** finding completed Wyckoff Accumulations. Today is a good day, because we found another one.
Introducing $UUUU. This stock has recently completed ~6 years of accumulation and appears to be in the early stages of markup. If you go through my related ideas of some other assets that have had similar setups, observe how...
Wyckoff accumulation thoery can be read in the link below :
stockcharts.com
Crossing my fingers now and hoping for Bitcoin to finish Wyckoff pattern so we can see a bull run soon. Also the spring area can actually be at 5.9-6.1K level.
Enjoy the idea!
Tal Education Group appears to be in Phase D wyckoff accumulation ... Phase E is next which would indicate further upside.
Good Risk Reward Idea in my opinion, starter long common position here, trailing 10% stop loss.
Wyckoff accumulation- started to learn Wyckoff because it's very powerful when you add this to your trading.
This is my Wycoff chart markup for EURUSD.
Wyckoff’s Schematics
The Accumulation and Distribution Schematics are likely the most popular part of Wyckoff’s work - at least within the cryptocurrency community. These models break down the Accumulation and Distribution phases into smaller sections. The sections are divided into five Phases (A to E), along with multiple Wyckoff Events , which are...
Possible BTC Wyckoff distribution + head & shoulder patterns in making.
Lets see if this plays out and age well or not :)
Not financial advice, just speculating.
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Good Morning everyone, in case you missed it my short position from yesterday is in profit about 70 pips right now. It’s not too late to secure an entry. Currently price is sitting around 1.37500. If this level can hold then price could make its way back up to 1.38000. This is an area where i will be taking another short position with a stop loss at 1.38175. Long...
Right now price for GBPUSD is heading towards our first take profit on this ride we are about to take. Price is playing out as Wyckoff Accumulation on the Daily timeframe. We are currently still in the spring phase. If you want to know what Wyckoff method is google it and you will find good examples. I have labeled price targets as well as long and short positions...
