Btc creating classical Descending Tringle Pattern with potential of fake breakout on Top and its look like Wyckoff Redistrubtion Schematic
Descending Top - Decreasing Volume - Uptrust and Sign of Weakness - Pattern will be Confirmed if Fake breakout happen on top and price break bottom line on rejection and Pattern is fail if price close candle above UT
Potential Bearish Harmonic Bat Pattern, along with Wyckoff redistribution on DXY. I see one last push but it most likely will be short lived. Time to start recalculating blue chip stocks, Bitcoin (cryptos), Gold, Silver and hodl. It may be a hell of ride. Time will tell
Following on from an earlier post, here is a closer up of the possible case for re-distribution.
We can see from this that if this is correct then we are most likely right in the middle of the downside and are almost definitely going to see more downside. This is obviously also possible given the amount of financial unrest we are seeing in other markets...
*The Pumpeye Perspective*
If this Wyckoff re-distribution theory is correct then and we are now on our way down then the low will happen around the 3rd October and the spring around the 15th October.
Today appears to be very similar to the 12th May drop and could be the start of further downwards movement if the Wyckoff pattern is true to the current...
I'm not too sure if this is accumulation or redistribution. If the price could break above the initial support of the sellers climax (SC) with some decent volume; I will be more convinced that we are in the final phases of accumulation. Lets just see what happens.
BTC has been forming a structure that looks more like an accumulation. I want to believe it is in a re-distribution phase and hence its going to fall.
I would look to be a seller between 35200 and 36140. With good risk management that should not be a problem incase it decides to fly.
Watch zones between 35200 and 36140 to enter for a short position
BTC suffered some shock with latest supply bar on daily that came into the market. I am only bearish short term a retest of 42K region is still very bullish in the meantime
I beleive this is a short term re-distribution that will start the momentum for a move to lower 40's soon
Happy Wednesday everyone. I woke this morning not only to a breakout above the Redistribution trade range this morning, but an interesting Tweet from Barry Silbert about the slides in the Goldman client call this morning as it relates to Bitcoin.
"We believe that a security whose appreciation is primarily dependent on whether someone else is willing to pay a...
Hopefully, everyone managed to have a great Memorial Day yesterday filled with a little bit of the normal we are all looking forward to returning.
Looking at the Intraday Chart, the formation appears to remain solidly within a second Wyckoff Redistribution. After the Selling Climax (SC) at $8,640 established the floor of the Redistribution trade range, the...
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The Wyckoff distribution pattern has a range between $4800 and $6800.
According to the distribution, the price is currently in at the "Upthrust" point, since it has moved above the horizontal resistance level at $6800. This is the initial movement of phase "B". The expected future movement is a downward...
What if that is true? But may be is not ...
The condition of Reaccumulation and Distribution begin with the same action and in the same manner.
This is a stopping action of the prior trend. What follows is a large and often long trading range.
When I got to thinking about the Wyckoff Events, I thought about this as a possibility most are not considering (where April's low was just a Secondary Test). Complete Theory but we will know soon enough. Keep an eye on the resistance areas in case we start pulling back.