$NMTR SINE WAVES$NMTR SINE WAVES
RS Ratio: 1/10 on 2/07/2018
Wyckoff Re-accumulation after decline, Strong Volume building
High Spike in Volume, MMs loaded on 8/17/2020
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Wyckoffaccumulation
My Revised Take On The Wyckoff Accumulation Schematic On BitcoinMy Revised Take On The Wyckoff Accumulation Schematic On Bitcoin
In this chart i show you the support and resistance levels that i am looking for in te coming weeks.
Looking at the last wyckoff pattern i have drawn i changed phase D because it looks like we got the retest to 32k as i initially expected. the last 2 whicks therefore can be seen as one on the wyckoff pattern, as that is possible in these type of patterns.
I also lowered the levels in phase D because they didnt align with the whicks in phase A and B.
I will be bullish if we break 36k short term and 42k long term, bearish if we retest 30k again.
For now i hope we are still following this pattern an see some green in the coming weeks.
Bitcoin – Accumulation: A Wyckoff Study With BTC breaking down below $32.7k, it appear to me that we have just completed a wave 4 corrective triangle, within the final wave 5 of a larger 3-3-5 correction. All that is left is the final capitulation to complete the last element of this corrective structure.
Read in the context of the Wyckoff Method, this gives the technical structure for what I show as a Redistribution, and the final capitulation into a selling climax that will invigorate the Bulls into value buying, and trigger the Spring that has been so long in the waiting.
Looking at the Fibonacci projection for the larger corrective structure, and the Fibonacci Channel that has defined the trading range since late May, it appears that the bottom of the correction and the Spring is around $26k.
At least that is how I see it.
GUBPUSD DESCENDING WEDGE ACCUMULATIONSame structure as EU. We are experiencing a divergence between EU and GU because a big move is about to happen
Bitcoin Wyckoff Accumulation Cheat Sheet (Update 1)Update on the previous cheat sheet with new trendlines and support/resistance levels.
Have also included the cumulative volume of each swing high and low since the Spring/Shakeout, to better show accumulation with lower volume on each pullback compared to up swings. (Note that volume is only based on BINANCE:BTCUSDT )
It appears we have just formed the second test of Phase C, with a confirmation of moving on to Phase D once we clear the 36600 swing high.
Comments and donations appreciated. Thank you!
Inspired by:
@bbrijesh
@JordanLindsey
@JKTrder
XAU USD Potential LONG zone (read comments for in depth details)Hey Guys, looking at gold's most recent price action on the daily TF, we can see we have accumulated almost at the same level of a previous re-accumulation. in fact, in the current accumulation's spring, we cleared the lows of the previous re-accumulation zone. which is very interesting and nice to see. so now that price has accumulated, and made it clear that it took the lows and broke structure upward, we can now look for zones of interest to go long. Now for my zone of interest id like to play of the daily IC, and would like to see a smaller TF accumulation as we enter the zone of interest, if i dont get that accumulation in the zone of interest then i wont be going long. Here's some screen shots in the comments to show a bit more detail.
Is wyckoff accumulation for BTC confirmed?I'm put major support at 23634.5 because of the reference from Elon tweet (Coordinates of Mexico)
EURUSD possible wycoff accumulationI am expecting continous bullish action next week and maybe market reversal at 1.19610.
The price is likely to spring on JULY 14 as we have high impact news.
The demand zone around 1.17720 is a key area to watch as the spring will deflect from that zone from my analysis.
GBPUSD | Market outlook Britain’s pound steadied against the dollar on Friday, recovering from two-month lows after a print of U.S. jobs data pushed the dollar lower. Earlier on Friday, sterling hit fresh two-month lows against the dollar, pressured by dovish comments from the Bank of England’s governor.Bailey’s comments knocked the pound to its lowest since April 16. But after the dollar was weighed down by some weaker details in an otherwise strong overall U.S. jobs report, sterling recovered some ground to trade 0.15% higher.
Bitcoin (Sideway action possibilities)Well... Recently its boring to see BTC Going sideways and now we are in an important zone... Guess what!.. We will get bug volumes soon and i have explained things in the chart. (P.S I'm not a fan of wyckoff)
Bitcoin Wyckoff Accumulation ConfirmationIn continuation of my previous idea. The PS in the formation was too low, possibly because of series of exchange crashes, which led to long trail of triggered stoplosses. That led that the whole structure was little misunderstood. Now we had a perfect spring and test exactly where I expected it, but quite later and now we are moving to phase D. There are no strong signs of strength on clusters, but we are smoothly moving up last days, crossing last day's resistance. At any moment bitcoin was looking weak: no signs of strong buyer interests, but now almost the whole formation is before our eyes. Lack of additional confirmations does not give me confidence, that we would go all the way up from this formation, since Bitcoin knows few cases, when price went down after exit from accumulation.
[UPDATE BTC] Proof that the BEARS are losing power! (crazy)Bull&Bear trend is an amazing indicator.
You can see we are losing bear power.
What I'm seeing is that we are going sideways until the end of July with some ups and down between 30k$ and 45k$ while losing bear power on the daily timeframe.
Check the video below.
BTC Current Wyckoff SchematicAnalyses of Trading Ranges (Stockcharts.com)
"One objective of the Wyckoff method is to improve market timing when establishing a position in anticipation of a coming move where a favorable reward/risk ratio exists.
Trading ranges (TRs) are places where the previous trend (up or down) has been halted and there is relative equilibrium between supply and demand. Institutions and other large professional interests prepare for their next bull (or bear) campaign as they accumulate (or distribute) shares within the TR.
In both accumulation and distribution TRs, the Composite Man is actively buying and selling - the difference being that, in accumulation, the shares purchased outnumber those sold while, in distribution, the opposite is true. The extent of accumulation or distribution determines the cause that unfolds in the subsequent move out of the TR."
Source and more great basic intro information for Wyckoff Method:
school.stockcharts.com
While BTC Holds Above the Previous Tesla buy in area 34200 expeciting a push to 40k or further as a confirmation of Accumulation.
The next confirmation of Wyckoff is a SOS ( Sign of Strength / Jump Across the creek) followed by LPS (Last Point of Support) to confirm the beginning of a move to Mark Up Phase.
See schematic here for reference:
ibb.co
Bitcoin About to Test Key Resistance I have updated my chart to show, along with the Falling Wedge I have been tracking, the Rising Wedge created by the higher highs and higher lows after the Spring. I have also drawn in a "Creek" line of resistance, and what it interesting about tonight and tomorrow is: Bitcoin is getting ready to test the resistance being created by those 3 confluent areas:
Falling Wedge (Yellow Dotted Lines)
Rising Wedge (Yellow Dotted Lines)
Creek (White Line)
All of which come together around the 35K area.
BTC could blow past that and begin its run to the upside, but more likely is that we see a rejection down to the bottom of the Rising Wedge at around 33.5K. All good if that happens, but if BTC breaks BELOW that resistance and starts closing candles down there, then all bets are off. I'm watching it like a Hawk this weekend.
USDCAD BULLISHUSDCAD has been on a monthly consolidation. Price was testing the previous low as institutions accummulate orders.
The accumulation cycle has been completed and we are now looking to be very bullish
This is a swing trade and positions will be added along the way
I will make a follow up post and leave a link here for my short-term perspective.
Bitcoin Wyckoff Accumulation Cheat Sheet (Repost)BINANCE:BTCUSDT
Putting the Wyckoff Accumulation pattern in the context of live charts with horizontal support/resistance and cloned trendlines .
Price has been tracking nicely since the Spring Shakeout on Jun 22 2021. Figured I'll publish this to use as a guide for trading entries if price continues to track it.
Source: @bbrijesh
Is The Wyckoff Valid for Bitcoin?What is the Wyckoff Method?
The Wyckoff accumulation is a century old form of technical analysis created by Richard D. Wyckoff. It is based on the principles of supply and demand.
According to Wykoff there are two main phases in a market cycle: The accumulation phase and the distribution phase.
f this was our Wyckoff spring moment then July could be very exciting!
— Lark Davis (@TheCryptoLark) June 22, 2021
The accumulation phase usually follows a big price drop (Phase A) In the accumulation phase the price bottoms out as investors are starting to accumulate share or in this case Bitcoin. The demand and supply are close to even until slowly investors feel more comfortable to buy more and the price rises (Phase D and E in Graph).
The distribution phase can be imagined as the mirrored version of this graph. After a heavy price increase, demand and supply are even and the price stops increasing, over time leading to a larger crash in price.
Wyckoffs method states markets never repeat exact circumstances. So, instead of looking for the market to repeat itself, Wyckoff’s method requires analysts to look at broader sets of patterns. All price patterns vary slightly from previous incarnations either by size or volume to therefore making analysts adopt to different sets of outcomes instead of the same one.
The second rule to the Wyckoff method tells investors and analysts to respect market relativity. Meaning, in order to understand today’s market trend, one must also evaluate the past.
Finally, In the Wyckoff method, Wyckoff introduced three trends. These include up, down, and flat. He also introduced three time frames in his strategy: short term, intermediate, and long term.
Is the Wyckoff Method valid?
According to many experts in the industry, we could soon entering an uptrend in Bitcoin price.
“In terms of the Wyckoff method, this $28.8K lower low is very similar to the $65K higher high. Both cause a maximum emotional effect on market participants.”
Final thoughts
Time will soon tell if the Bitcoin bounce off of 28k support this week is the spring to send Bitcoin back to reach it’s previous all time high. Many in crypto are hoping for a bullish reversal of the market come July.
