my view on current BTC price action through Wyckoff goggles. See my comments about volume profiles in the chart.
At this stage it is certainly too early to conclude if this is either Distritbution or Reaccumulation.
I lean towards a Reaccumulation scenario right now while considering other secondary TA like:
- divergences on RSI, MACD and Stoch,
After some classic buy the rumour sell the news action, Verge is in a free fall right now.
Look at the bearish Div on RSI and Stoch, the double death cross on the 4h and the extended 5th Wave which usally indicates that the retracement will be very deep.
I am not saying that we might have a bounce here and there but the bottom should be around 480-600 Sats where...
Look at that. ADABTC (purple) / ADAUSD (purple) vs BTCUSD (red) seem to establish counter trend like behaviours. Look at the async between those pairs.
We might finally start to witness seperation from BTC and Altcoins wich ,in my eyes, is generally a good sign for cryptos.
This can be oberved on several alts. I will try to further illustrate more pairs.
If you missed the discount: here is your opportunity.
High Probability of inverse head and shoulders for short term trades.
Double top pattern indicates downward movement. MACD flinging down on the hourly. Volume is decreasing rapidly.
Will be evaluating trade positions again before target of 10k is reached.
It looks like xrp is finally breaking out ouf the triangle.
Additionally a H&S pattern has been formed. This should take the price to about 2.70$ if the 3rd wave is comfirmed.
MACD looks quite bullish on the 4h as well as on the daily. On the 4th it is already crossing.
XRP still seem to follow BTC during correction, but it has proven quite some times that it...
My former post has been showing a completed wedge. This wedge now extended to a larger wedge where ADA bounced off 2 times off the strong support line @4935 Sats. It has also been hitting the fibo retracement lines almost perfectly during the ABCDE correction. Now the price is getting squeezed in by the upper wedge resistance line and the strong support line...
There is a critical area between 14k-15k$ to be observed within the next few days. This will show me whether we have finished an ABC correction or if we are going into the E Wave to correct even further down to probably 8k.
If BTC can break the triangle we should be seeing a new ATH. Hard to judge it right now since the MACD trend looks positive while on the...
After the first 5 impulse waves ADA has finished it's ABC correction and is now starting it's 3rd minor impulse wave which has a short-term target of 14200 Sats! The MACD trend as well as the 2nd ABCDE correction wave furthermore substantiates this possibility.
The major wave pattern looks pretty solid with a longterm target of 18400 Sats.
Quite some profitable...