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At the top we see here the DEFI index, daily chart, and below the weekly chart of Bitcoin (2018)
A series of lackluster rallies , lower highs on decreasing volume suggest that demand is really poor.
Institutions have quickly sold their assets off the top and run away from this market (RISK ON->RISK OFF MODE)
Lower highs suggest a break of the support. That...
A trend is generally composed of three stages:
1. Momentum- 2. Absorption - 3. Speculation
The price action of Chainlink in March-July is a perfect case study. 1) Initial momentum after extreme oversold condition 2) absorption on low volume and spreads and then a final acceleration.
Bitcoin is currently in the second stage : higher highs and higher lows on...
Ethereum has just completed a textbook multi-year Wyckoff Accumulation .
Crypto funds (or "whales") have aggressively bought Ethereum in the first half of the range (point 1).
The upthrust in phase B (2) and the reaction on low volume (3) are both elements of strength.
After the COVID selloff in March (4), price has quickly recovered on good volume off the...
After the Shakeout at point 1 , Bitcoin is showing signs of absorption. Higher lows at point 2, 3 and 4 on decreasing volume signature suggest that supply is exhausted.
We are now testing the top of the big capitulation bar at point where supply has emerged in early September. Volume is still low (no evidence of supply) and the price action is constructive...
HHs and HLs on the relative strength ratio XMR:BTC reinforces the idea that we are currently in phase D of a multi-year accumulation on XMRUSD.
Short term, price can spring the support of the local trading range (dotted line) at $70, but the overall price action is very constructive.
We have discussed this chart in our free Wyckoff Crypto Discussion , check...
Bitcoin is highly correlated to the stock market. The market has shown demand and potential to retest the high, but bearish news could negatively impact the S&P in the next week, so we want to be prepared for both bullish and bearish scenarios (see post BITCOIN. SCENARIO #2)
Analysis: Demand is still present at the upsloping support on Bitcoin, BUT THIS IS A...
Accumulation scenario for Bitcoin.
1. Stopping action
2. Lower high. Buyers are not very active after the selloff in early September, bearish sentiment
3. Volume decreases, Higher lows. Supply is very exhausted
4. Price reaches the top of the upsloping range structure and fails. However, low volume on the resistance indicates that slling is not aggressive....
Downsloping consolidation. Reaccumulation scenario
Spring Setup. Confirmation: close above $6.30
Pattern failure: Stop loss at $5.37
Wyckoff Crypto Discussion
Join us each Thursday for a free discussion of the cryptocurrency market from a Wyckoff perspective. These sessions are hosted by Alessio Rutigliano and Roman Bogomazov.
1. Supply comes in but it is quickly absorbed. A trading range starts.
2. Shakeout and successful test. Phase C is completed.
3. Supply is still present on the top half of the range, but it’s quickly absorbed. The uptrend starts.
At point 4 supply comes in on the overbought line of the uptrend channel, a danger point. However, price holds...
Example of cryptocurrency in cyclical reaccumulation.
Trading the Crypto Market with the Wyckoff Method
3 Session Course totaly devoted to cryptocurrencies and Wyckoff Method. 6 hours of materials and exercises.
In the stock market, the rotation of capital mirrors the business cycle, as managers favor specific sectors according to the economic conditions. For this reason, when we analyze the stock market we compare the main indexes (S&P, Nasdaq, Dow, Russell). Capitals rotates in the crypto ecosystem too. It’s possible to analyze the crypto market using the same...
We have analyzed Tron $TRXUSD on May 22nd in our Wyckoff Crypto Report vol.23
Today several mid caps are clearing important resistance levels and show signs of outperformance. Crypto funds buying the "laggards"?
Wyckoff accumulation structure on the intraday.
WEEKLY CRYPTO REPORT vol. 8 Excerpt
A QUESTION FROM A READER
“Is it legit to identify accumulation ranges on the LTCBTC chart instead of looking at LTCUSD? Regards, T”
Your analysis should always start from the –USD chart, in your case LTCUSD. What crypto funds care about is the USD value of their holdings, not the number of Bitcoins they get. However,...
Ethereum: Long term Accumulation complete. Phase D in play. Bull market in play
A two year reaccumulation in the cryptocurrency world is a major event that
suggest that we are at the beginning of a major bull run reminiscent of 2016-2017 .
THE WYCKOFF STORY
Initial signs of institutional buying are evident in September 2018 (1).
This area becomes an...
Long term view . ETHEREUM.BITCOIN. LITECOIN. Three major cap crypto assets: accumulation structures complete.
It’s time to zoom out and focus on the big picture . All the major caps have finally confirmed their accumulation structures.
Let’s review the price history of the last two years in the crypto ecosystem.
The first signs of institutional value buying...
Since the beginning of 2020 Bitcoin has shown remarkable signs of absorption.
Let's analyze the bullish scenario.
The analog upbars at point (1), (2),(3) indicate ease of movement to the upside.
The rally begins on expanding volume, supply is vertically absorbed at (4) .
Price has broken the overbought line of the major downtrend, a change of...
CURRENT OUTLOOK: Change of Behaviour in the crypto market.
STRATEGY: LOOK FOR A BREAKOUT OF THE LONG TERM RESISTANCE FOR CONFIRMATION. NEO AND OTHER ALTCOINS WILL LIKELY SHORT TERM OUTPERFORM BITCOIN.
1. INITIAL BUYING BY VALUE INVESTORS
2. INSTITUTIONAL ACTIVITY AGAIN. SELLING CLIMAX WITH DECELERATION. LOOK AT THE RED AREA: SUPPLY IS ABSORBED...
Short-term weakness quickly overcome again, yet long-term trend analysis shows signs of climactic run
SHORT TERM WEAKNESS INTO THE END OF THE LAST WEEK NEVER MATERIALIZED INTO AN ACTUAL SIGNAL
AND MARKET REMINDED US AGAIN THAT WE ARE IN A RUNAWAY MOMENTUM PHASE OF ADVANCE
DEMAND IS NOW OF SPECULATIVE NATURE AND A LOT OF INSTITUTIONS ARE RIDING...