Bitcoin Wyckoff Accumulation Last Point Of SupportLast night we failed to reclaim the 36k, this was an important level if we wanted to see some more upside. After getting rejected on the 36k (which was also a .236 and 0.5 fibonacci level) we fell down to test the first support level of the wyckoff model, at the time of writing it seems to hold. When this holds we could see a small increase in price but in the optimal scenario we would like to see a second test of the support before we go higher.
Therefore I think that an increase in price towards the 21 and 50 moving average is likely (~35,200) this is also supported by the 1.618 of a larger trend extension*, followed by a small price correction to retest the First Support. However, when Volume increases during the approach towards the moving averages it could be that we break through them and see another test of the 36k.
* 1.618 of the larger trend, here you can also see that the low of last night was supported by the 1.272 of a fib trend extension.
Wyckoffaccumulation
BULLISH: Bitcoin at Wyckoff's Accumulation Phase?Hi everyone,
Thank you for considering reading my idea.
In this 1h chart, we may be in the middle of Phase C and starting Phase D of the Wyckoff Method - Accumulation Phase. In Phase D, we should see sign of strength (SOS) in the market that should be HIGHER than the automatic reaction (AR) and with higher volume. We can also see that we are making a HIGHER HIGH but less volume
On the other hand, I also have a macro scale analysis of Bitcoin using Wyckoff. See my related ideas below.
If you want to know more about Wyckoff Method, read here: www.wyckoffanalytics.com
Like this idea and follow me for more analysis like this. TAYOR.
Cheers,
Juvs
Is BTC going through a Wyckoff Accumulation?BTC maybe going through a Wyckoff accumulation. Most of the market is currently following the overall trend of BTC so this distribution may be in play across the entire crypto market.
The yellow path is my predicted path of the market in the near future.
Please leave your thoughts below.
SOURCES:
Unable to provide original source due to account limitations. Please look at the StockCharts web page on The Wyckoff Method.
Bitcoin Wyckoff Accumulation Change to schematic #2In contradiction to what I was saying in my previous analyses Bitcoin made a pump last night after finding support on the golden pocket level of a fibonacci trend-based extension (.618- .66) and creating a low at the 1.618 of a trend based fib extension *. Due to this pump I think that it is less likely that the bitcoin price will have a spring, therefore, I changed my price predictions more towards the second accumulation schematic of wyckoff instead of the first one. When this hold the ultimate low will be created on Monday/Tuesday after this we would see increase to test and flip previous resistance levels into support. At the moment of writing the price is trying to reclaim the 36k, which in my opinion is not very likely at this point. If the prices gets rejected at the 36 a small downside move is more likely to happen, this also te prevent the creation of a large weekend gap on CME (which, most of the time, need to be filled before we can move any higher).
If (4) holds in the schematic an increase to the .786 of the first wave can be seen. However keep in mind that there is potentially some more downside and that (4) can be extended to the golden pocket where (5) and (2) also held support or in the worst case scenario to the .786 at ~33,100.
* The chart below shows the 1.618
BTC Wyckoff Accumulation (A followup from my previous idea linked bellow)
I believe this scenario to be less likely than my pervious idea but am posting it hoping for feedback.
This is a second idea still keeping to Wyckoffs accumulation schematic.
It may be possible that the accumulation period is shorter than I stated in my previous post.
Changes:
I've moved ST to just below AR.
STB replaces the previous ST.
If this is correct then it would seem that we are approaching the "SPRING" very much sooner at just below 28,000.
Please comment on if you think this idea is or my previous idea is more likely.
TWTUSDT WYCKOFF DISCTRIBUTION ANALYSISTrade Proposal:
There is a probability of first tp to the proposed ( 0.87 ) Direction line. So, Traders can set orders based on Price Action and expect to reach short term goals.
Technical analysis: TWTUSDT Waiting for the Range Bound and the beginning of the Ascension Trend.
BTC Wyckoff Accumulation This is my first time publishing an idea.
I've been reading on bear patterns and came across "Wyckoff Acccumulation Schematic" on google images.
I've attempted to forcast according to Wyckoffs schematic. I suggest googling it to compare it with what I've drawn.
From my understanding, accumulation patterns precede a a large bullish momentum - so I see BTC resuming a strong bullish trend after June.
Please comment on changes you would make to key points corresponding to Wyckoffs accumulation schematic
Classic BTMM weekly cycle?The classic forex-like behaviour of BTC this week seems to continue playing out.
Sunday/Monday: stop hunt rise and drop
Monday: false move week beginning, a drop lower
Late Monday to early Wednesday: continuous rise with small level test above / at Sunday stop hunt
Early Wednesday: midweek reversal, top of the pattern
Mid Thursday: second leg of the M
Thursday/Friday: completion of the M, drop into level 1
Early Friday: continuation to the downside, level 2 and level 3 to be confirmed
Should this play out, it also fits within a Wyckoff accumulation pattern on the daily, with the Secondary Test (the Monday stop hunt) being broken and a new low printed before a rise to test the high of the Automatic Reaction level at 40k-41k.
Scary stuff.
Continuation Wyckoff Distribution on Bitcoin 1H is the low soon?As we can see the Wyckoff schematic still holds correctly, after getting rejected on the .618 (the second pink circle) last night we are currently testing the support of the .618 fibonacci retracement of the first wave (may 23rd to may 24th). This in combination with the support that was created by the low on 25th of May. If the support holds we could expect an increase towards the 0.786 retracement as a fourth wave.
The current price of today is also testing the 1.272 fib trend extension. When this holds as support it will create another indication that the price is more likely to increase before we are going to see another low.
Ethereum - Accumulation Schematic: Wyckoff Events and PhasesHi guys,
just wanted to share an updated version off the Wyckoff accumulation.
We we see resistance around 3k I would say it is very likely to play out like that.
Because ETH is so bullish its possible that we won't touch support but only go to the green area.
PLTR forecastpossible spring might have formed at $17. If price rally up to $24 in the current bullish trend, support will be formed at $18. If not we will expect price will drop to ~$15