I am expecting continous bullish action next week and maybe market reversal at 1.19610. The price is likely to spring on JULY 14 as we have high impact news. The demand zone around 1.17720 is a key area to watch as the spring will deflect from that zone from my analysis.
Britain’s pound steadied against the dollar on Friday, recovering from two-month lows after a print of U.S. jobs data pushed the dollar lower. Earlier on Friday, sterling hit fresh two-month lows against the dollar, pressured by dovish comments from the Bank of England’s governor.Bailey’s comments knocked the pound to its lowest since April 16. But after the...
Well... Recently its boring to see BTC Going sideways and now we are in an important zone... Guess what!.. We will get bug volumes soon and i have explained things in the chart. (P.S I'm not a fan of wyckoff)
...Sign of Strength (SOS) at 42k. Onwards.
In continuation of my previous idea. The PS in the formation was too low, possibly because of series of exchange crashes, which led to long trail of triggered stoplosses. That led that the whole structure was little misunderstood. Now we had a perfect spring and test exactly where I expected it, but quite later and now we are moving to phase D. There are no strong...
Bull&Bear trend is an amazing indicator. You can see we are losing bear power. What I'm seeing is that we are going sideways until the end of July with some ups and down between 30k$ and 45k$ while losing bear power on the daily timeframe. Check the video below.
Analyses of Trading Ranges (Stockcharts.com) "One objective of the Wyckoff method is to improve market timing when establishing a position in anticipation of a coming move where a favorable reward/risk ratio exists. Trading ranges (TRs) are places where the previous trend (up or down) has been halted and there is relative equilibrium between supply and demand....
I have updated my chart to show, along with the Falling Wedge I have been tracking, the Rising Wedge created by the higher highs and higher lows after the Spring. I have also drawn in a "Creek" line of resistance, and what it interesting about tonight and tomorrow is: Bitcoin is getting ready to test the resistance being created by those 3 confluent areas: ...
I uptated my #wyckoff accumulation schematic
USDCAD has been on a monthly consolidation. Price was testing the previous low as institutions accummulate orders. The accumulation cycle has been completed and we are now looking to be very bullish This is a swing trade and positions will be added along the way I will make a follow up post and leave a link here for my short-term perspective.
If you are interested in the theory post below. What is the Wyckoff Method?
BINANCE:BTCUSDT Putting the Wyckoff Accumulation pattern in the context of live charts with horizontal support/resistance and cloned trendlines . Price has been tracking nicely since the Spring Shakeout on Jun 22 2021. Figured I'll publish this to use as a guide for trading entries if price continues to track it. Source: @bbrijesh
What is the Wyckoff Method? The Wyckoff accumulation is a century old form of technical analysis created by Richard D. Wyckoff. It is based on the principles of supply and demand. According to Wykoff there are two main phases in a market cycle: The accumulation phase and the distribution phase. f this was our Wyckoff spring moment then July could be very...
Currently between Phase C and Phase D in Wyckoff Accumulation.
For the past month Bitcoin has been in a very boring sideways moving range. However this pattern shown in the chart is a Wyckoff accumulation pattern which is used by the big whales to manipulate the market and acquire as much Bitcoin as possible while making the weak hands sell their Bitcoins by bulltrapping and bear trapping as seen in phase B and C. If BTC can...
Distribution and consolidation of Wyckoff. schematically. probably faster.