Xylochef

Xylochef

Time to Short BTC $25K is the 0.5 FIB of the DROP from $32K. It rejected for 2 weeks, then we continued down. Hit bottom, now bouncing up, but again, can’t get all bullish until that rejection turns into support. This is macro level here, 1W candles. The increase in volume of the 2 previous weekly candles suggests sell-off on the bounce. This is not really...

Xylochef

The great dilemma - how does volume effect price? Volume is a war between supply and demand. Many believe price is pushed by high volume. I am suggesting that high volume stops the current movement. Newton’s First Law of Motion in effect.

Xylochef

Volume says it all. You can see the big smart money positioning and exiting the market, which is seen by higher than the normal relative volume. This results in price reacting in a direction consistent with the smart money activity. Currently, we are in the next high volume buying period of smart money buying retail fear. Historically you can see that price reacts...

Xylochef

Many think Bitcoin is in a bear market. Wrong, all we have done is retrace the impulse wave to $64K. 1.272 FIB line is the next target. Buckle up, bitcoin about to continue the uptrend to $74,000+.

Xylochef

Look at this long term macro price action analysis using 1 month candles for BTCUSD. Notice the repeating pattern of the bullish impulses that end and result in the increasing floor of the price as it drops and closes the monthly candles. Each floor has been equally distanced apart. If BTC follows this 5.5 year pattern, we can expect to see BTC as $9600-$9800...

Xylochef

Clearly you can see the effects of volume on the price action, denoted by the matching colored candles. Momentum oscillators also showing bearishness. Some people think we are headed to new ATH, but I suggest this is impossible until another round of "green" accumulation takes place. I'd be interested in your thoughts. especially if you disagree. Look at the...

Xylochef

Volume analysis shows heavy distribution taking place on the 4H chart. You can see the prior accumulation defined by green volume bars, which led to the price pump. Now we are in a new distribution cycle, price will respond in the downward direction. Hitting the high volume at the local top reveals large money has sold. Bitcoin will need to swing down and...

Xylochef

The white arrows point to the corresponding accumulation and distribution phases shown by the volume bars below the chart. You can see the resulting price action that came due to the volume preceding it. Look at the current accumulation cycle depicted here. Expecting BTC upswing.....take a look.

Xylochef

The recent impulse drop has bounced and crossed the 0.5 FIB line. Historically this results in an extension of the drop to the 1.272 FIB line, which is near $8400. Expecting short term dip to this level to be met with high volume buying.

Xylochef Updated 

All you have to do is look at where the high volume came in. If you look at BTCUSD and zoom in to the 1 minute chart resolution, you will see that the high volume CAME IN AT THE TOP. High volume at top means only one thing, a majority of the volume came from BIG SELLERS. Supply was released, and sold to the FOMO buyers. Immediately after this supply release,...