TommySantosCrypto

TommySantosCrypto

In my previous posts, you would see that I have been tracking the same Falling Wedge for weeks now. Finally, Bitcoin made its way down to the bottom support for that Wedge, and the result thus far was as expected. After breaking through many other YouTuber Fear-inducing "last ditch" resistance lines, proclaiming after that "WE'RE GOING DOWN TO 10K!!!!!!!!" BTC...

TommySantosCrypto

I'm not saying one way over the other which way BTC will break, but what has become incredibly annoying are all of the Crypto influencers out there stoking your fear or euphoria about which way this thing goes in the short term. So, here's my short take on all of that noise: Bitcoin is in a Descending Wedge.... It has been since the beginning of this manipulated...

TommySantosCrypto Updated 

If you've read my previous posts, you'd know that I've been primarily tracking a Falling Wedge that Bitcoin has been in. Despite all of the noise, that's all it's been doing since May. It's had 11 touches to its top resistance line and 4 to the bottom support line. I have also drawn a resistance line above the wedge, and what becomes evident is the 4 times in this...

TommySantosCrypto

Continuing to track the same macro Falling Wedge pattern I've had on chart for this entire Wyckoff Accumulation phase, and BTC is still within in. At a more micro level, there is also an Ascending Triangle that's developed in the most recent leg on the 8-hour. The measured move for both the Wedge and the Triangle are approximately confluent depending on the...

TommySantosCrypto

I have updated my chart to show, along with the Falling Wedge I have been tracking, the Rising Wedge created by the higher highs and higher lows after the Spring. I have also drawn in a "Creek" line of resistance, and what it interesting about tonight and tomorrow is: Bitcoin is getting ready to test the resistance being created by those 3 confluent areas: ...

TommySantosCrypto Updated 

If anyone tells you they know what Bitcoin is going to do here, they're lying to you. I do not like that BTC broke back into its Falling Wedge, but it is still respecting the bottom of the Wyckoff Trading Range by not breaking back into the purple area. In a previous post, I noted I was watching for both of these events. The first has happened, so we watch...

TommySantosCrypto

If we can close a daily candle above critical support, we're in a good place.

TommySantosCrypto

Let's watch together, shall we?

TommySantosCrypto

Without a doubt. Over and over and over again. This has happened throughout the entire Bitcoin run, going back years. Basic, proven market tenets and strategies withstand the test of time, and when someone can identify them, there's potential for bigtime profit. If you have read my previous posts, you know that I'm tracking a Wyckoff Accumulation phase that is...

TommySantosCrypto

As expected, Bitcoin dropped overnight to the top of the Walling Wedge it rode in for what felt like years (it was really a couple of weeks). It's wicked down into it, so we'll see if it holds. RSI is right smack in the middle, so it has room to run either way. Check out my previous post for a breakdown of the 2 things I'm looking at over the next day or so....

TommySantosCrypto

The crypto market as a whole had a great day today. We all breathed a sigh of relief when Bitcoin FINALLY DID SOMETHING DIFFERENT. And for those that have been paying attention you'll know that Bitcoin continues on its Wyckoffian Accumulation pattern, having finally broken out of both its Falling Wedge and the lower resistance that makes up the Trading Range. As...

TommySantosCrypto Updated 

BTC saw a nice pump today and continued to follow its Wyckoff Accumulation pattern. It finally broke out of its Falling Wedge and confirmed multiple 4 hour candles above it. It's moving up at the moment, but a back-test of the top of the Wedge would be healthy. We just don't want to see if break back into it - we want it to hold the top of the Wedge as support. If...

TommySantosCrypto

I don't don't most of my analysis on a line chart, but sometimes it helps to pull back to a macro view and remove the noise of the candlesticks. As I've said in previous posts, this Wyckoff Accumulation phase is bouncing through a falling wedge, which coincidentally is relatively close to the pattern and price action that spiked us to all-time highs....

TommySantosCrypto Updated 

Lots of folks are talking about how the BTC chart is bearish, as it tries to break support at around 31.2K. But I see something different. When I look at its chart, I don't see a Descending Triangle. I see a strong case for a Falling Wedge, which is a bullish pattern, and is confluent with the pattern and expectation created by the Wyckoff Accumulation pattern...

TommySantosCrypto

See my previous post from about an hour ago. Right after I posted that, manipulators tanked the price to nearly the 31.2K line. Further confirming the Wyckoff Accumulation phase.

TommySantosCrypto

It's a thing of beauty. Wyckoff Accumulation, to a tee.

TommySantosCrypto

So far, this Wyckoff Accumulation phase is playing out pretty perfectly. I noted yesterday that my only concern at the time was the high volume that undid the Spring's dip. As I look at how it's playing out now (still on track), I'm wondering now if that wasn't a spring, but instead another test/fake out. On the 4 hour, it only stayed near that hammer's low for...

TommySantosCrypto

I have added back phases and reconfigured based on current price action. 2 things are interesting when you super-impose this on top of the Falling Wedge (the orange dotted lines): The wedge lines help guestimate the support and resistance lines for future price action further into the Accumulation phase. The price target from the wedge (orange vertical...