What a great start of the week with BTC giving us such relief! Cannot say we are surprised, as we've called a ranging structure on BTC almost 1 month ago, and it has been doing just that eversince. I know that the chart is a little busy but pay close attention to every small detail. - See the range between 32k and 40,5k - See the descending trendline on the 4hr...
You can look at XLM as well and put the same points on them. XLM is cheaper and could be a potential play if it mimics BTC. Been buying around the 31-34 cent ranges for a play to the upside.
BITCOIN -- Supply and Demand ⚔ Battle Continues! 😬 Bullish volume expands at the bottom of Trading Range $32,000. (This was the "Hold the Door" moment in GOT. 🏋️♂️) In the Wyckoff schematic, this appears to be the SPRING 🐍. Bullish volume has entered... bulls escape the death trap to $20,000. Admittedly, "Phase B" went on longer than I thought it could and had...
BITBAY:BTCUSD This chart analysis is simplified and gamed by previous success methods by yours truly. DYOR, take it with a grain of salt if matters of analysis conflict with yours. Wycoff Phase A Fundamentals Widening spread on chart and selling pressure due to lack in news affected price action (1 of many catalysts) followed by AR (automatic rally);...
SQ at first looked like a distribution but the Apr 13th high never went above the previous high on Feb 11th. I do see a potential false 1st spring on march 4th to the upside which didnt play out but there is another potential spring to the upside on may 19th that is slightly lower than the march 4th 'Spring" . I cant post a pic on here but if anyone else is...
Bitcoin bulls in control. Accumulate more Bitcoins and Hold , Trading Bitcoin futures not Advised. OK, so ..... I have combined the Wyckoff Accumulation Method with Elliot Wave. PLEASE NOTE: The Wyckoff Accumulation method is not yet COMPLETE but is still in Progress and on PHASE D we waiting for PHASE E to Confirm that the method is Complete. Refer to the...
I can sketch something and I follow like this! Not financial advise.
I am comparing the re-accumulation zone back in January to now. Both the differences in the pattern and also the differences in the indicators. Volume, MACD (the histogram portion) and RSI currently are showing weakness after showing a bit of strength which is the opposite of what was shown during the accumulation stage in January. A point of interest on the...
The purpose of this publication is to examine the ETH USD price over time in the context of Wyckoff accumulation and distribution schematics. It appears that we entered a period of distribution or re-distribution in early May with a buying climax (BC) observed on May 10. This event was followed by an automatic reaction (AR) and an upthrust (UT). Resistance lines...
Hello Traders, TGIF all! I observed a Wyckoff Accumulation Pattern on the weekly chart of GBPUSD and I wanted to share the event and phases of Wyckoff schematics. Wyckoff(1873-1934) was a pioneer in the technical analysis of the stock market. At the age of 15, he started his job as a stock runner for a brokerage in NY. He observed the studies of JP Morgan...
This is a follow up of my prior idea of Wyckoff accumulation idea playing out on $BTC I believe the previous charting I did trying to figure out what phase we're in at the moment was invalidated after watching the market move and considering volume performance as an indicator to better understand what major market players are actually doing. I believe now we're...
Hello friends, I talked about a bitcoin theory similar to this chart before. Unfortunately, that theory has been cancelled, with the incoming 32,000 drop. This was the last theory I followed. I have summarized the stages and the meaning of the movements for you below. A: Signal that the downtrend is over B: the cause generation zone for ascension...
2-2 Strat reversal Daily off the buyers candle Bottom of STRAT Broadening formation on the Daily Declining volume-possible sign of whales taking supply out of the market multiple retests price above 9 MA with retest above VP Point of control+ price imbalance areas in volume profile gaps All the above = Long Be Fearful when others are greedy and greedy when...
With the resumption of the correction in the last few days, I thought it was a great time to provide an update to the previous analysis of the Wyckoff Cycle and to focus in on what appears to be Phase B of the Accumulation period. In this daily chart in the standard scale, you can see that I have adjusted the way-points of the accumulation template to fit with...
As we saw spring last night it seems that the price action is now forming an elliott wave where we are just at the top of the third wave. This top is supported by several other resistance, and previous support lines, in combination with .618 fibonacci retracement of the very first wave of the accumulation phase. In addition we are now, around 36.5k, trying to...
The 2021 bullrun rollecoaster of bitcoin is met with Wyckoff distribution Scheme and now an accumulation scheme. Whats come next is as we got the big jump after the spring, we will soon consolidate for a while before retesting the previous resistance at around 40k Then, after breaking said resistance we will have the second consolidation that will last longer as...