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Accumulation

Bitcoin Wyckoff Accumulation Schematic # 1 and # 2 - In Phase BHere I am exploring the Wyckoff Accumulation Schematics #1 or #2 and the market manipulation we are all feeling, with recent rejections from inverse head and shoulders patterns and institutional buying increasing are strong signs we are now in this schematic. Phase A played out beautifully with a Selling Climax at the bottom of the trading range and an Automatic Reaction (AR) defining a new key resistance level. BTC is is now in Phase B - defined by building a new "cause" where whales and institutional investors are buying and accumulating off of all the fear and FUD from the previous Wyckoff Distribution Schematic. We are already seeing positive news articles, green mining initiatives and overall more positive news in the cryptocurrency space. There is a potential for multiple ST's or Secondary Tests near the selling climax, which was quite dramatic around the $30,000 levels. Phase C we could see more sideways action or 1 final spring or shakeout as defined in the Wyckoff Accumulation Schematic #1. These present an excelling long / buy opportunity. A low volume test of support is preferred and can present an excelling long position. Also look out for LPS's, pull backs to support that were previously resistance. Phase D we should be looking for additional LPS's i.e. Last Points of Support to enter long positions. Testing the resistance lines and showing signs of strength. Phase E will be headed back towards all time highs with a price target around $58,000 and up. As time goes on we can jump into a new phase earlier or later than expected, phase lines may need to be adjusted but if this schematic continues to evolve be sure to follow and give this post a like as I will post updates along thew way if this continues to play out.
BINANCE:BTCUSDLong
by Flava4455
8
Bitcoin Out of Capitulation? Can we get back above 200 day MA.It wouldn't be cryptocurrency if we didn't have eye watering corrections like these. I guess this is the price we pay for having astronomical gains and cryptocurrency still being in its infancy stages as a market and technology. Its been blatantly clear that there has been a lot of institutional and whale buying during this market crash. I have a short term 1 hour channel of Bitcoins capitulation trend. We slightly broke out of the capitulation channel but we may re-test $35,000. Seems like we may have formed a double bottom but we'll see. We're trending back towards being over the 200 day moving average. These are good signs of recovery. A lot of other analyst are stating we're in a "dead cat bounce" and we may head towards the lower $20,000 levels. That's possible if we drop back below $30,000 but I see way more support and recognition above $30,000 than there is at the $20,000 level. Even if we did drop back to $20,000 most people would buy that up in a heart beat. This crash is driven by nothing more than fear and emotions because at the end of the day the fundamentals of Bitcoin remains the same. Just my opinions. Much peace, love, wealth, and health. And yes, I strengthened my family's Bitcoin and Ethereum positions this crash.
COINBASE:BTCUSDLong
by peacefuljustin
Shark's ETH UpdateAs a kid I had a dream of going to Wall Street. It really started with baseball cards and those becket books. Around the age of 11 the passion grew into tracking actual stocks. From 11-15 I had a paper route and each morning I would track the ticker symbol of interest while I folded the papers to go out to the neighborhood. I started reading any book I could get my hands on that would teach me more about trading. 21 years ago, one of the books that really peaked my interest was Jesse Livermore, Worlds Greatest Stock Trader. I must have read the book over 15 times. Though I have developed my own style of trading over the years, there is some influence from Jesse's thought processes perhaps from reading it so much early on in my life. One of his go to patterns was called an accumulation cylinder. Google jesse livermore accumulation cylinder and you can see some of his actual pics. With respect to Jesse's Famous widening mouth accumulation cylinder, here is my update on ETH. If this is to play out we must stay above $2,000 period. IF a break of $2,000 presents itself I will be looking to add and buy more ETH between $1,600-$1,700 right near the 200 day moving average. We are looking for validation that ETH wants to move up the cylinder by a critical break of $2500. If $2500 shows support this is also another great place to add to your positions. A successful break thru $3,000 is confirmation that we will be headed to touch the top of the cylinder. Be patient and let the indicators do the work for you. Remove the emotion and follow the chart. WIth this mindset you really are good with whatever direction it goes. If it goes up we keep making money if it breaks $2k we get excited about adding to our longterm positions. Swim with the Shark . Have an awesome weekend. BRONSON-TheSHARK
COINBASE:ETHUSDLong
by Bronson-TheShark
5
SFP 55% Move in the making SFP has been accumilating and is soon closing in on a break out of the apex for a 50% measured move . I have done a FIb Ext Pull to give us some potential targets to the upside and down although my bias at the present time is bullish . Just to note that BTC can destroy these setups with ALT coins very easily when volatile so pls have an idea of how BTC is trading first . Sideways BTC is the best breathing space for ALTS. My Target for this will be the 1-1 Extension as this aligns with our 55% measured move . Please ensure you know your Invalidation and use a SL Like and Follow me for regular setups ..Thanks for reading
Long
by SJTRADESFUTURES
[LITUSDT] Patience will be paying! End of falling wedge.Hi all! LIT has been struggling for a good month now since that huge flashcrash 18th of April on all altcoins. As you can see nevertheless, it stayed in that long accumulation area since its listing on Binance. Even though volume is still low, I'm still strongly bullish on it for the next few weeks. You can also notice a strong falling wedge on daily timeframe within this ranging zone. Fundamentals are really great and LIT is really a one of a kind project in its niche. With Polkadot's main event around the corner, we can even expect some potential massive news that would fit perfectly with this current bullish chart. A slot on Polkadot's auction would be a great news! RSI is still very low and MACD's histogram shows a light reversal. As we are trading under all EMAs on daily TF, we can expect to trade above them if we manage to successfully break this falling wedge by the top. Dotted line represents a potential resistance we will have to break. We'll definetely reach the top of that accumulation zone soon (around $13) and then hopefully go for another ATH. All indicators clearly show we are currently accumulating. And guess why people try to get more of something..? ;-) This is not an investment advice, always do your own research. Good luck everyone!
Long
by cryptologyy
2
MITH/USDT - small cap - big potentialMITH/USDT recently caught my attention as I was looking for smallcaps with decent chart setups and fundamentals that align with potential breakout zones. With a marketcap of only 80 million right now there's great potential for multiplying your money once it takes off because not a lot of money is needed to move the market and that is also what makes this a high risk - high reward trade, only invest what you can afford to lose and are willing to keep locked in the coin for a while. Circulating supply and max supply is both 1 billion so you don't have to worry about sudden watering down of the supply or increase of marketcap without moving the price. Right now we can see MITH sitting right on uptrend support of a big symmetrical triangle on the 4hr chart and also on support from the prior bottom which makes this area a good buy zone in my opinion but we also have to be careful about BTC potentially screwing with those plans which is why I'd recommend to slowly accumulate over time. MITH recently merged with Corra.Finance to implement Defi and NFT's for MITH which in the current market may cause a big push and spark in interest for MITH. Corra.Finance will go live today and the IDO for it will be on the 15th of May. These dates coincide well with the chart setup and make me very bullish on the future of the project. If you do not want to risk potentially getting stuck in a slow bleed and don't have the patience for a medium / longer term trade you could wait for a breakout first but in this case that would mean buying 50% higher. No stop loss on this one for me personally due to very thin order books, too much risk of getting stopped out by a wick and then also massive slippage on top of that. Sometimes we also see patterns like this drop down first and breaking out with a slight delay so if anything I'll be adding more if that happens, I've marked the potential re-buy zone in the chart. Best of luck and let me know what you think!
MLong
by Wolfy_