Bitcoin has been consolidating around the 88.6 fib level of the bat pattern. If you notice it has hit that area 5 times and every time it gets rejected(BULLISH) it is currently printing a higher low. For better confirmation wait for price to brake $42k . Good luck!
Another higher low ($30k, $31k, $33k) - will it act as the spring up?
Not sure since ST in phase 1 dipped below SC which could mean there is further downside, but since i am developing a liking for wyckoff, here it is.
Currently BTC appears to be travelling through phase B of the Wyckoff accumulation schematic. I did not pick up on this myself but thought I would share the chart with you. If this is true then we can expect plenty of sideways action and finally a breakout to the upside. To find out more about the Wyckoff schematic please check this link. school.stockcharts.com
Trade Proposal: There is a probability of first tp to the proposed ( 20.16 ) Direction line. So, Traders can set orders based on Price Action and expect to reach short term goals. Technical analysis: USDMXN Waiting for the Range Bound and the beginning of the Ascension Trend.
Phase A. Stopping the previous bearish trend. • PS. Preliminary Support. It's the first attempt to stop the downward movement that will always fail. • SC. Selling Climax. Climate action that stops the downward movement. • AR. Automatic Rally. Bullish reaction. An upward movement that sets the maximum range. • ST. Secondary Test. Test of the...
Bitcoin is currently mimicking a Wyckoff Accumulation pattern on a 4h chart. Over the last year, a near perfect Wyckoff Distribution pattern was experienced on a 4h BTC chart as well. Usually these patterns are found on higher timeframe charts, but in extremely volatile markets they can appear on lower timeframes as well. It's possible that Bitcoin could...
Is ZOOM done with the correction? Propably. I am looking forward to see the stock move like its on steroids If the zones around 303 and 346 hold, then we are in for a good ride
I Think what we see right now is already the sign of strength within a Wyckoff Accumulation. I Think it makes sense that BTC runs through patterns faster than Stocks, as the whole crypto market is much faster and more volatile! Also the number of Bitcoin Shorts is through the Roof, wich means the could be a HUGE short-squeeze pumping the price like crazy. The...
📚 EDUCATIONAL💡 Potential Wyckoff Accumulation pattern on the BTC Chart!!! I've tried breaking this down as easy to understand as possible. DON'T READ IT, STUDY IT! Richard Wyckoff was a guy from the 1930's who was so done with the big guys manipulating the market that he went ahead and developed two methods that helps you oversee the future and save you from...
At first, we have to understand that Bitfinex doesn't concentrate most of the market however nowadays arbitrage bots reflect orders almost instantaneously, causing the market to converge on data information. On the 4-hour chart we can observe a distribution starting around 1:00 on the 26th of April and extending to the 11th of May. The famous "Sell In May an Go...
Using Wyckoff on the daily it looks like NVAX is setting up for a move to the upward direction. Play it how you how want and do your own DD, but I am may be looking at some credit spreads.
Looking at the picture I see a small Accumulation to the upside. Even If I am wrong and we see a dip from the wedge I will be playing straddle options tomorrow on the weekly's depending on how premarket movement goes. Straddle at current price right now, if underlying hits $10.50 that would be close to 100% profits.
This is an update on the Wyckoff Accumulation phase with events. For a full analysis with a chart of the theory, please see: www.booyahtraders.com
i am short term bullish on BTC, stop loss in case things go south.
During this accumulation period, i've been studying wyckoff accumulation pattern. By now i personally think that i have enough data on the chart to confirm this pattern, though i could be wrong. If this theory is correct we should be heading towards the SOS (Signs Of Strength) area and likely heading upwards to the 0.702 fib level. Between the 0.618 and 0.702...
Hi everyone, Thank you for considering reading my idea. We have been following this pattern since 30th of May . In this new chart, we recently have our " Test " signal then pumped to our resistance lines. For the first time, we have entered PHASE D ! We may find resistance at 40K and see a minor correction up to 37K before, hopefully, we break the resistance...