SellBitcoins

SellBitcoins

Due to how long the previous accumulation was, I don't believe this one will be as long relatively speaking. We will bounce around a little before moving up to the 120-130k range.

SellBitcoins Updated 

More and more evidence supporting the notion of accumulation rather than distribution. The latest markups have bigger green candles with good volume vs smaller red candles (or wick which suggest absorbed) and lower volume. PNF target is around the 90-100k mark before we get another one of these sideways. For now, if correct, we will see pump, retrace to test...

SellBitcoins

This is what a bearish view would look like. As usual, targets are based on traditional pnf methods. The AI BOT I use seems to be extremely bearish which prompted be to go against my better judgement and also be bearish. As usual, just an idea. Good luck.

SellBitcoins Updated 

Without a long period of getting everyone bored, it can't go anywhere too far. We need at least 3 months+ before something big can happen. A nice trading range if you "buy low sell high" although the exact movement will be tricky to predict.

SellBitcoins

At this point, a bearish view is taking too long for it to come true. If we are indeed bearish, we will still visit the ATH before going down. Everyday we stay above 60k I am leaning more and more towards bullish. I don't believe this is a good place to short. We should see a series of higher highs and higher lows. Remember, nothing goes straight up or straight down.

SellBitcoins Updated 

...the latest action always takes priority. We didn't get the low volume weak retrace to 60-61k. Smells more like a spring than a lpsy. If true, then it was accumulation after all, as hard as it is for me to believe. It is what it is. The next retrace will be quite telling, aka the test. If its a weak dump, then it's worth a long.

SellBitcoins Updated 

Everything makes sense to me again. This has been distribution all along. Institutions are not going to let retail long and make money this easily, its always the other way around. This idea that resonates with me the most. I've tried numerous attempts to paint a long picture but each time something feels a little off. But zooming out to the daily and labelling a...

SellBitcoins

...then I expect us to look something like this. Gut feel says bear due to all the good news are already out, yet we are here at 63k and not 70k. Trying to keep an open mind as usual. Good Luck.

SellBitcoins

Seems like Bitcoin isn't quite ready to go down, despite going down. A potential long in the short term. I believe 72k will be hit. If I am wrong, it's not the end of the world to short the LPSY as per previous chart (the bounce after the breakdown):

SellBitcoins

Zooming out from the 4 hour to the daily, it appears much more clearer. I may have been too absorbed into the smaller time frames. It reminds me of one of the earlier charts for sure: I no longer think it's valid to go down in the short term. It should've been quick and decisive. Instead we should visit at least 72k first and from there, it will be another...

SellBitcoins Updated 

There's not too much room for interpretation left, which is one of the beauty of Wyckoff. You pick up clues along the way, volume, candle size, etc and you narrow it down. The critical point is towards the end of the range, I think we are pretty close to it now. Could this go to 73k new ath to clear shorts for the real UTAD? Sure it can. Do I think it's likely?...

SellBitcoins

...there's always another one around the corner. Terms and conditions apply. A little indecisive moment. I do feel strongly it's distribution but its also starting to look less like it. I am seeing lots of shorts piling up which seems to liquidate around 66k. So for starters, we will go there. From 66k, I will re-evaluate and update when there's something new....

SellBitcoins Updated 

Until now, I have been hesitant to label the bigger picture (purple boxes), but everything is making sense now. We had ups, sideways, and now the descent has began. Using traditional pnf targets, 50k is the target. This aligns with liquidations on most of the top exchanges where most low leveraged users get liquidated. I will be shorting until something...

SellBitcoins Updated 

Gun to head I will trade the chart as is. However, a little uncertain here so I wont be making a trade. Just sharing an idea and my thoughts. Hong Kong ETF - Yes I understand the whole point of T.A/Wyckoff method is to ignore Fundamental analysis, but I find it quite difficult to ignore sometimes. The AI bot that said to short 70.1k when I was bullish...

SellBitcoins Updated 

No new major changes to my ideas, just fixed up some labelling and protectory. Fundamentals are great yet price has remained more or less in the same range. This isn't an accident. When everyone can see 80k-100k BTC, the question becomes, why aren't we there yet? Do we really expect institution to pump so we can dump to them? That's not how it works. Infact,...

SellBitcoins

There's an article from an interview with Blackrock saying its not institution buying, but lots of retail averaging 20k making up their volume. That means we are being distributed to. The market moves at the path of least resistance, and I do believe the massive liquidation of shorts around 72k has made it easier to go down. Also based on an AI I use, its...

SellBitcoins Updated 

I know what I said, waiting for the spring closer to 66k. However, I believe that was it, that's all we get to have. The volume, the pump, followed by the reaction are all very convincing of what happens after a spring type action. Nice solid volume with a clear rejection, followed by a serious of big green candles with high volume and small red candles with low volume.

SellBitcoins

..clothes! My thoughts as as such. Accumulation: - The pattern since selling climax at $60,777 of higher lows gives a strong indicator of accumulation. - Volume is trending down, leaning towards accumulation. Distribution: - Where I have ua at the end, it could make sense to be an utad which explains some of the weakness Overall, I still think this is...