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Cycle

BTC: Digital gold trades like goldThe correlation coefficient between gold futures and Bitcoin started out negative for a few years, but after Feb '14 they began to move together. BTC and gold have now been in a five year cycle where the correlation will jump to +72, then drop to a higher low, then up to +72 again, over and over. It seems reasonable that the correlation could soon become stronger than +72 at this rate. It adds validity to the "Bitcoin is digital gold" idea. They are both being traded in an increasingly similar way.
COMEX:GC1!
by The_Arena_Trader
Utimate Wickoff Cycle Guide PART 1. ACCUMULATION CYCLE Wickoff Theory The Wyckoff theory describes many aspects and rules of trading. The main problem of the theory is the demand/supply balance. It is widely known that this balance is the key reason of some price action on the market. Today we are going to consider the Wickoff Cycle pattern. Let's start with the accumulation one. WIIckoff Events Key elements of the theory is the price action, spread and volume. The possible acuumulation cycle Wickoff events are following. 1. Preliminary Support (PS) - price in the downtrend, volume and price spread increase 2. Selling Climax (SC) - price spread is large, all selling volume is absorbed by major investors. Here we can see the long wick bottom 3. Automatic Rally (AR) - when the bearish pressure decreased the bulls became dominant. 4. Secondary Test (ST) - price returns almost to the SC. Used for the bottom confirmation. Volume and spread are much lower than in SC. Can be multiple. 5. Spring - it is optinal event. Occures when the selling pressure is strong but major investors have a greter demand to absorb all this supply 6. Tests - can be multiple. Attempts to re-enter the trading range low. Bullish tests is the less volume with higher lows of the price action 7. Sign of Strength (SOS) - price action along the resistanse usually looks like a triangle or wedge pattern 8. Back-up/Last Point of Support - last low before the uptrend starts Wyckoff Cycle Let's consider step-by-step the phases of the Wyckoff cycle. 1. Phase A - the huge downtrend is about to end. We can identify the PS, SC and AR points which form the resistance and support of the trading range. 2. Phase B - price action is in the trading range. The mutiple secondary tests (ST) of the support are possible. During this phase it should be alomost clear that bullish pressure is stronger than bearish. 3. Phase C is optional. There is could be the spring - fake support level breakout, but the price quickly returnes to the trading range forming higher lows. 4. Phase D - the price broke through the resistance and starts consolidate along it. 5. Phase E - massive price pump. DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
Education
by Skyrexio
1
Primary Elliot Count for BTC starting 2021Wondering why we haven't had a pull back recently? This is because we are within the third, of a third, of a third wave. This is the most bullish part of any Elliot count. Don't stand in front of a bull or you'll get the horns. Predicting targets for highs is nearly impossible, as we have already exceeded most common Fib extension targets. Always zoom out, the larger time frame always tells the best picture of the direction of the market. (Yes I posted this a few moments ago, but was not satisfied with my charting)
BITSTAMP:BTCUSDLong
by Mtn-Dew
1
Here it is #RioTinto #RIO #tradingview @RioTinto #mining #goldWho would have thought it?! Rio Tinto is faster than the police or the Söder allows. The shares simply do not respect the boundaries of the restrictions and cross the borders. That is forbidden, after all in Germany. In this case, Rio Tinto is making a statement with a new all-time high and thus for me an superior ongoing wave 3. With 4.8% p.a. Dividend yield one is also made happy at the moment. So everyone can get through the storm. Greetings from Hanover Stefan Bode
ASX:RIOLong
by StefanBode
2