Well guys we had our fun shorting and now its time to switch it up. Excellent Accumulation structure forming right in front of us. I for one am participating in this. The only way this would be invalidated is if a lower low was made after this. But who would sell their coins here after such violent selling? It wouldn't make much sense to me.
I've got a fun one. I've been looking for some alt coins that have not had their major sell off yet and this one looks perfect. After its high in May there was a big increase in supply the day after in which thereafter it attempted a rally (Automatic rally) on increased effort yet a new high could not be made which we call the secondary test. then after that it...
I was messing around with some trendlines and i think i found something very interesting. So i took the accumulation structure from 2019(in log scale) and i followed it out to the current day and and of course there's lots of ups and downs between these two trendlines especially with the corona crash but where it gets interesting is when it breaks above the top of...
I have been following bitcoin for some time now trying to observe for potential reversal signs so that those that have been riding the bullrun can take profits at key areas. Usually there isnt much of a concern to be bearish until a lower low is made on the daily which is what happened in May. Once a lower low was made it then came up to make a lower high before...
This was the Distribution from 2017 vey similar already to what we are seeing now. As you can see in 2017 the first point of supply was at the end of November. And hit its buying climax on december 8th showing the most buying volume on the entire rally then comes up for an automatic rally and comes up short of the recent high and then makes a lower low that is a...
This is just an update from my previous post. After Bitcoin has made it second major sign of weakness by breaking below the previous low. It has backtested the Automatic Rally as resistance and has now backtested the first Sign of Weakness. This means one of two things bitcoin may breakdown here completely. Or it confirms to traders that the bearish bias is true...
Sorry for my tardiness on this one. Classic Wyckoff Distribution schematic #2 unfolding before us now. At Last Point of Supply right now. Diminishing volume signature was as clear as day what this was. I shall update as i go I just had to get this out there as soon as possible. Thank you
So I have seen it all on the internet lately , wyckoff this wyckoff that everyone is confused. Let me break it down for you. It seems since the 30k drop we have had 2 phases of Redistribution. This is not one whole structure. Phase 1 already played out. There are many ways to look at a structure after its buying or selling climax. First off in an accumulation you...
I've been following this trading range on Bitcoin for quite sometime now and its getting clearer by the day what is going on. We've been in a sideways range that's trending slightly downwards very reminiscent of the redistribution from 2018. Where Bitcoin would keep hitting 6k whilst creating lower highs almost like a descending triangle. If you look at bitcoin...
Bitcoin showing a tremendous amount of strength after the mark up. Reaccumulating and absorbing remaining supply. Oh wait... this is the inverted chart. Does that mean the market is absorbing remaining demand? If this is the case I would remain short on bitcoin until there are signs of strength. Of course anything is possible in any market. And I will continue...
