Bitcoin formed wycoff accumulation#2Bitcoin formed wycoff accumulation#2 which says there won't be a spring so there's also no ST, this accumulation#2 says after a failed spring we see LPS at least two times before breaking the AR formed by phase A, and it broke out of the AR and the UA which was about $42k, then came back down to $39k, which was also a support in lower timeframe so we should be expecting another breakout of the AR and UA to fully for SOS then re-testing the AR which is also a creek to form the BUEC and then the bull run starts.
Wyckoffaccumulation
Bitcoin and Fibonacci retracement.It looks like bitcoin follows Fibonacci retracement more so then Support and resistance levels. Also don't forget that bitcoin is following the Wyckoff patterns almost perfectly. If you don't know the Wyckoff patterns then I highly suggests that you at least look over some of the patterns with the site on this post. Right now bitcoin is in the Wyckoff Accumulation phase.
BTC/USDT According to Wyckoff Acc. consolidation then breakoutThe last two times we covered BTC/USDT we talked about the Wyckoff accumulation and its different phases.
We now finally reached the last consolidation phase after another bullish night where the 41k$ was broken.
Now we expect some sort of consolidation before we make a brutal move to the upside.
The bears are getting rekt since the recovery from below 30k$.
Additionally we see a golden cross between the 50 and 200MA indicated by the yellow camera symbol.
We also see a consolidation of the RSI above the 50line which could act as a strong spring.
Take care and enjoy the ride.
Basic rules:
- Never buy the top/ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
Possible Wyckoff Accumulation on $ARCTI have been trying to identify and study the Wyckoff patterns ever since the pattern became recognized in the recent bitcoin distribution and accumulation phases. i believe i see accumulation in $ARCT, which is a biotech with mRNA vaccines and treatments. The stock is lower float, heavily shorted, and with current issues surrounding Covid-19, a potential runner. There are several gaps to fill above as well and earnings coming up shortly, with a potential to surprise to the upside.
BTC UPDATE, It's all about Bull Runattention, Not financial advice
after the btc breakout of the falling wedge, we saw very high volume causing a slightly massive pattern move forward, maybe we could see an elliot wave and wyckoff pattern forming in the future, and the pattern I created based on previous support and resistance
EURUSD | Market outlook
European investors are focused on the publication of the July index of the business climate in Germany from IFO, which was negative. Instead of the expected growth to 102.1 points, the indicator fell from 101.7 to 100.8 points. IFO head Clemens Fuest said that the mood in the German economy has deteriorated. Overall, German businesses fear supply chain disruptions amid a worsening pandemic around the world. Almost 64% of German companies complain about the lack of components. The index of expectations of German business also fell from 103.7 to 101.2 points. As for the new wave of coronavirus, representatives of the tourism and consumer sectors are especially concerned about its consequences.
The euro gained on Monday as greenback dipped investors were cautious ahead of the Federal Reserve meeting. They key event of the week for markets is the Fed meeting, where investors will look for Chair Jerome Powell’s comments about the timing for the start of tapering of the central bank’s asset purchases.
Wyckoff Accumulation playing outWe just reached our Wyckoff Accumulation Phase B target, exactly as I predicted (or a lucky guess), which i drew on my chart back at the red circle in early June. We will likely retrace to 0.382 and push slightly higher (around 41-42k) but I think this will be a bull trap before going to the slaughterhouse..
The lower target for me is between 25k-22k (Fib 1.618 ish which also coincides with support & resistance (yellow circle)). Other's have predictions slightly lower than this at 18k.
RSI on the daily is nearing overbought now, which is what we needed to get a bigger leg down.
Once we've had the spring (bear trap), we'll start making our journey to a new ATH in late 2021/early 2022.
I've circled where I think we are in the Wyckoff cycle
BTC/USDT Wyckoff accumulation. Heading to Phase D?Last time we covered Bitcoin we introduced the Wyckoff accumulation pattern.
The continuation did not follow the exact pattern.
We rather saw another so called "Test" below the 30k line and are moving upwards since.
Currently we look for a breakout above the 0.5 Fib line and a follow up retest of it as new support.
This would give us a good setup to move towards phase D, the consolidation before the final upwards breakout.
Bulls are coming back but don't be mistaken it's still a long way to go.
What drives the market upwards again?
The talk about the B word can be considered bullish news where also potentially Tesla will accept Bitcoin payments again in the near future.
The bears were not able to hold BTC constantly below 30k and now it looks like the semtiment swapped.
Fundamentally we move towards great updates for Bitcoin, Ethereum and Cardano which cannot be ignored anymore.
Basic rules:
- Never buy the top/ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
Potential spring for Wyckoff modelI believe this is a much more technically sound spring, while most people incorrectly assumed the previous phase B test was a Wyckoff spring. The volume was still too high last time. Volume has reduced since then and a trend change seems to be on the cards after dipping below the TR on low volume. Fingers crossed it succeeds.
BTC WYCKOFF EVENTS ANALYTIC - 2021/06/23Introduction
Meant for clients/community/personal use.
4hr and especially larger time frames (6hr, 8hr, 12hr, 1day) are effectively adherent to analysis.
Summary
Personal analysis drove me to comfortably gauge current action placement in PHASE C.
The length of horizontal lines are placed in relatively similar fashion to historic WYCKOFF analytics and aligned with possible dates of importance;
they are neither definite and ever changing for validation and trade proficiency.
Phase lines will move according to price action events that occur.
Conclusions of events that have occurred by phases:
Phase A
Selling Climax (SC)
Automatic Rally (AR)
Secondary Test (ST) - Often happen repetitively before shifting into Phase B
Phase B
Secondary Test (ST)
Broke Support
Phase C
Spring
Note from studies:
'Springs or shakeouts usually occur late within a TR and allow the stock’s dominant players to make a definitive test of available supply before a markup campaign unfolds. A “spring” takes price below the low of the TR and then reverses to close within the TR; this action allows large interests to mislead the public about the future trend direction and to acquire additional shares at bargain prices. A terminal shakeout at the end of an accumulation TR is like a spring on steroids. Shakeouts may also occur once a price advance has started, with rapid downward movement intended to induce retail traders and investors in long positions to sell their shares to large operators. However, springs and terminal shakeouts are not required elements: Accumulation Schematic 1 depicts a spring, while Accumulation Schematic 2 shows a TR without a spring.' - Richard D Wyckoff
Conclusions:
Spring was effective upon engulfing 4hr up time frames.
My personal belief of patterns indicate Schematic 1 is conclusive.
Biotech - CSLModel has given entry signals for CSL Limited:
- CSL Limited is a global specialty biotechnology company that researches, develops, manufactures, and markets products to treat and prevent serious human medical conditions.
- We are very excited about opportunities in the biotech sector, as we believe the fight against COVID is going to move to the next phase in the nearest future.
- Technically in a Wyckoff accumulation structure with a spring, possibly testing the channel top.
GLHF,
DPT
Disclaimer:
We absolutely do not provide financial advice in any shape or form. We do not recommend investing based on our opinions and strongly cautions that securities trading and investment involves high risk and that you can lose a lot of money. Loss of principal is possible. We do not recommend risking money you cannot afford to lose. We do not guarantee future performance nor accuracy in historical analyses. We are not registered investment advisors. Our ideas, opinions and statements are not a substitute for professional investment advice. We provide ideas containing impersonal market observations and our opinions. Our speculations may be used in preparation to form your own ideas.
BTC Short term reversal tradeHey trader,
BTC bounced off of orderblock we formed earlier today, giving me a nice sniper entry targeting the highs and the previous days liquidity. And even I just noticed, looking at the chart on the 15min,(I sniped the trade on the 5min), we have formed a nice accumulation. I expect BTC to begin rallying into an uptrend for the next couple days.
Give me a follow and like this post for more. Also check out my links below to learn how to analyze the crypto charts using real price action.
BTC - Wyckoff Accumulation seems to be happening. A recent 50% drop, Elon's tweets, massive head and shoulders and a death cross make everyone turn bearish as a result Fear and Greed index dropped to 14 last week, meanwhile big boys are reaccumulating. If you look at CME BTC chart you'll see an almost perfect (AR, automatic rally should be lower then the next HH) Wyckoff Accumulation happening on all of the time frames from 3h-12h. If it plays out it might give some fuel to the short squeeze that many expect. Even if we are in a bear market there will be bounces on the way to the bottom and the current set up might actually provide one.
Wyckoff Accumulation + Bullish BatFX:GBPCHF Has for the past couple months been forming a clear Wyckoff accumulation schematic. Its been manipulating the lows and we got the last low which was the spring, or shakeout. There is also a bullish bat which matches perfectly with the institutional candle that formed on the chart which is where your entry would be if you decide to take this long position. Your target would be the previous resistance at the high. Follow for more free trade setups! Good luck traders!
NOT FINANCIAL ADVICE!