Hi Everyone! The purpose of this video is to DEFINE "when" we have officially begun a "full fledged" Bull Market. Well, in relation to Wyckoff Method 2.0, the Bull Market "officially" begins when we see our transition from Phase C into Phase D with a Sign of Strength event.
We had our transition from Phase C into Phase D with a Sign of Strength event in March, 2023. However, we were not sure < at the time > if that event was an Exponential Rally in Phase B; creating 2-Tiers of Accumulation - OR - if it was a Sign of Strength in Phase D of a Descending Wedge Accumulation Schematic.
REMINDER: If we see an Exponential Rally in Phase B of Accumulation; creating 2-Tiers of Accumulation; this will often result in a period of RE-Distribution. In RE-Distribution, we must see a Sign of Weakness in Phase D and a Sign of Weakness in Phase E to "complete" that period of RE-Distribution. Well, did we ever see a "Sign of Weakness" closing below $25,050? No... Then we did not have a period of RE-Distribution. This would also imply the substantial move to the upside we witnessed in March, 2023 was NOT an Exponential Rally in Phase B; creating 2-Tiers of Accumulation. Instead, that substantial move to the upside in March, 2023 had to be a Sign of Strength event in Phase D of a Descending Wedge Accumulation Schematic.
I mentioned before in an older publication that we needed to "close" below $25,050 in order to see a Sign of Weakness in RE-Distribution. I mentioned several times in older publications, "...it depends on how much of a pullback we see in order to determine if we are in a 2-Tiered Accumulation Schematic or if we are in a Descending Wedge Accumulation Schematic.
Well, since we NEVER saw a Sign of Weakness (Substantial pullback closing below $25,050) then we were not in a period of RE-Distribution within a 2-Tiered Accumulation Schematic. INSTEAD, we were in a "Back-Up/Last Point of Support Period" in Phase D of a Descending Wedge Accumulation Schematic.
IN RELATION TO WYCKOFF METHOD; Always remember the following: A Sign of Strength event in Phase D marks the OFFICIAL beginning of a Bull Market.
I hope this video publication was helpful.
Happy Trading and Stay Awesome!
David
We had our transition from Phase C into Phase D with a Sign of Strength event in March, 2023. However, we were not sure < at the time > if that event was an Exponential Rally in Phase B; creating 2-Tiers of Accumulation - OR - if it was a Sign of Strength in Phase D of a Descending Wedge Accumulation Schematic.
REMINDER: If we see an Exponential Rally in Phase B of Accumulation; creating 2-Tiers of Accumulation; this will often result in a period of RE-Distribution. In RE-Distribution, we must see a Sign of Weakness in Phase D and a Sign of Weakness in Phase E to "complete" that period of RE-Distribution. Well, did we ever see a "Sign of Weakness" closing below $25,050? No... Then we did not have a period of RE-Distribution. This would also imply the substantial move to the upside we witnessed in March, 2023 was NOT an Exponential Rally in Phase B; creating 2-Tiers of Accumulation. Instead, that substantial move to the upside in March, 2023 had to be a Sign of Strength event in Phase D of a Descending Wedge Accumulation Schematic.
I mentioned before in an older publication that we needed to "close" below $25,050 in order to see a Sign of Weakness in RE-Distribution. I mentioned several times in older publications, "...it depends on how much of a pullback we see in order to determine if we are in a 2-Tiered Accumulation Schematic or if we are in a Descending Wedge Accumulation Schematic.
Well, since we NEVER saw a Sign of Weakness (Substantial pullback closing below $25,050) then we were not in a period of RE-Distribution within a 2-Tiered Accumulation Schematic. INSTEAD, we were in a "Back-Up/Last Point of Support Period" in Phase D of a Descending Wedge Accumulation Schematic.
IN RELATION TO WYCKOFF METHOD; Always remember the following: A Sign of Strength event in Phase D marks the OFFICIAL beginning of a Bull Market.
I hope this video publication was helpful.
Happy Trading and Stay Awesome!
David
Note
UPDATE:I made some adjustments to my Long Term Detailed Distribution/Accumulation Bitcoin Chart:
Note
UPDATE:BTC: Further Clarification on our MACRO Bull Market
Note
UPDATE:REMINDER: Red Line in the 6-Week and 7-Week time frames is above Magenta Level 60; implying price action can rise at least up to the Magenta UPPER B-Band.
6-Week and 7-Week:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.