BTC has corrected more than 50% over the last weeks and many are calling for 20k targets. When everyone screams an asset will move in a direction it eventually turns and never gets to the price everybody thought it was headed. This time likely won't be different. Apart from that, one can spot a Wyckoff Accumulation pattern currently playing out. It'll be...
Here we come across Accumulation phase as specified in Wyckoff Model. As per the model one can take a long position in Take Solutions. The details of the model is described below. The four stages of Wyckoff model (Accumulation Scheme) are: - 1. Phase A The selling force decreases, and the downtrend starts to slow down. This phase is usually marked by an...
The USDCNY continues to find itself in a solid downtrend. This is illustrated by the ADX indicator, which has been threading above the 25-point benchmark since late September 2020. The ADX reached a peak around the time the price action fell to the upper boundary of the last Accumulation range at 6.4700. Afterwards, the price went on to establish a false bullish...
I charted out possible phases and resistance lines according to the Wyckoff accumulation pattern. I'll be interested to see how closely it continues to follow the pattern.
If BTC is indeed following the Wyckoff Accumulation pattern, this is what it may look like. See link below for info on Wyckoff analysis.
Bitcoin Wyckoff Accumulation Schematic Phase C?
Are we in the PHASE E of the Distribution Schematic?
Will the spring load here?
If ADA is following the Wyckoff Accumulation model, we should see something like this. BTC is following it almost exactly. Link below on Wychoff info.
BITSTAMP:BTCUSD BINANCE:BTCUSDT Hi ,In this video I discuss about the current Dump , potential moves of the price in immediate short-term , symmetrical Triangle Breakout and Wyckoff's accumulation pattern in action. For more reference check my other videos about this Wyckoff's accumulation pattern : If you found this video helpful like and leave your...
Hi everyone, Thank you for considering reading my idea. This is a continuation update of my previous idea of Wyckoff but this is on 4h timeframe instead of 1h. In this 4h chart, we had our Selling Climax (SC) at 33K then an Automatic Rally (AR) going up to 39K. We also formed another resistance at 40K. We had our secondary test (ST) at 34K that is somewhat near...
Are we in accumulation phase B? The history will prove or confute.
Since the distribution happened in Feb 2021, NYSE:NIO has formed a selling climax (SC) on 5 Mar 2021 followed by an automatic rally (AR), which defined the trading range. The selling climax comes with increasing of supply after reacting the earning announcement and even broke below the support at 40. Yet, there is no follow through to the downside. Instead, a...
Having reached a key level, AC is expected to accumulate long positions for another run towards a Higher High. After a long accumulation we finally see a rally after the Spring. All we need now is multiple levels to be broken to the upside. I have indicated the most probable reversal zone. Worth keeping on your watch list especially for swing traders. GL
Here is a brief theory of mine on where we are right now if we really are in an accumulation phase of the Wyckoff Method. In this scenario, I believe we are early in phase B and will be in for a wild ride over the next couple of months while we utilize the whole range created in January. Hopefully, this will end sometime between mid-June and mid-August, then we...
This is an update to my previous Idea linked below. Previously on 4H chart. I've zoomed out to a 1D chart to get some greater perspective. BTC failed to break its resistance - indicating an inevitable downward movement. Then came Elon's tweet, catalyzing the downward momentum. I don't really think his tweet had much to do with this drop as TA already told us...
Hi everyone, Thank you for considering reading my idea. Since the launch of ICP , the value of ICP against USD has been declining. If we try to plot the current price actions to the Wyckoff Method, we get this analysis. Just a disclaimer that these signals may not be accurate. There are several ways to plot the signals as the price action is not yet...
There appears to be a short-term Wyckoff accumulation riding the front of a longer-term accumulation. While yesterday's pump seems premature for a "Spring" move, and we may even get a small, short-term dip in the next few days, momentum appears to be building for a big move up in coming weeks. The monthly support level, last visited in Feb., '18, seems firm as June begins.