Like DOGEBTC and BATBTC, we have some very predictable behavior within a clearly defined range. More interesting in what is in the range, not the deviations.
Oscillators oscillate around what? The equilibrium. Although the equilibrium can change, here we can estimate the area fairly well. It has some good confluence here with the 200 weeklies (MA & EMA)....
Here's a schiff pitchfork i built using the swing that followed the BTC December bottom.
I would flip my bullish bias if the following happens:
1)channel is broken
2)4hr 200 MA & EMA fail to bounce price back into the channel, and price closes below both
3)daily close below 9100
When number 3 condition is met, I will start shorting. Not before.
high volatility inside a potential reversal range will shake out many market participants, often testing both bears and bulls. Both sides have been tested multiple times with fakeouts on both sides (upthrust in Phase B and spring in Phase C).
Volume supports this idea as we experience volatility in early Phase A and Phase B, with contraction occuring in Phase C...
Invert your altbtc charts (ETHBTC, EOSBTC, LTCBTC) and see the similarities. As BTC.D distributes, we should be seeing alts show breakouts of accumulation ranges. BCHBTC and EOSBTC are hinting strongly for reversal.
Hope you all are as excited as i am
Seeing some majors reverse, but waiting for the trickle down effects into mid-caps. This is the most history I could find on ADA, which places it near the ATL.
ADAUSD pair is also unlikely to see new lows as BTC approached 9k again, after retracing 90% of early 2019 run.
Don't overthink this.
Please keep in mind wyckoff accumulation is simply a range with some extras. If you think it's more complex than it is, just keep these things in mind:
SC is a selling climax
ST is a (re)test of that level
AR is an automatic rally
LPS is a last point of support
SOS is a show of strength
The definitions speak for themselves.
Daily 200s (both exponential and simple) offer some great confluence to place an entry with very tight risk. Accumulation range provides invalidation if we somehow manage to break the 200s on retest.
Will update with interim targets
We're seeing that China's speculation on crypto projects has provided significant buy pressure on select alts (EOS, TRX, NEO, ONT, NULS, for instance). WAVES is on the top 15 of the CCID's Global Public Blockchain Technology Assessment Index (XIII) as of July 2019.
A conservative entry would be upon a break of $1. If we do not go up here, I plan to accumulate...
We have a potential to have a dig a bit further (possibly even to $17)--this is of course dependent on what BTC does. That being said, I do not see how it is a bad area to start accumulating. Mid-caps are starting to all look better and better.
With btc dominance bleeding, we are seeing some alt/btc pairs showing some signs of bottoming/reversal. TTM squeeze is firing a signal on the 4hr and 1D, showing potential for a strong move. Seeing hidden bullish divergence on the 4hr, as well as bullish divergence on the 3D.