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Wyckoffaccumulation

XRP extra analyses | Wyckoff schematicsWelcome fellow Traders, In this analyses we are going to show you our view on the current market situation for the cryptocurrency: Ripple . This analyses is going to be a little bit different from our usual analyses since this is going to be an explanation on why we see the Wyckoff pattern evolving in this cryptocurrency. We will be analysing XRP using the wyckoff method. For those of you not familiar with the Wyckoff method be sure to check: school.stockcharts.com Let me know if you think our analyses is spot on or completely rubbish! Phase A: Phase A marks the stopping of the prior downtrend. PS: The preliminary support is where substantial buying begins after a prolonged down-move. This can be seen in the chart, this was the first place where we really got a feeling that the downtrend for XRP/BTC might be over. SC: Selling climax, this is the place where selling pressure usually climaxes and panick selling by the public is being absorbed by larger proffesional institutions. We can see the selling climax in the red circle. AR: Automatic rally, this occurs when the selling pressure is mostly absorbed and therefore a buying spree will easily move price to higher places. The high of this rally helps define the boundary of the Trading range. This can be foudn in the first green circle. ST: Price revisits the former area of the SC and the bottem can be confirmed here. The volume and spread should be significantly diminished, which can be seen in the chart. Phase B : Phase B is the cycle where we are "building a cause" for a new uptrend. ST(B): The first thing we see here is a new test, The Generally bigger players are building up a position here and are usually becoming Net long. At this particular crypto we saw support located at 2K sats. Test: ON nov 17 and 18th we saw the test, the test is when the players is checking wether supply or demand is in fvour and when a sudden hit of supply jumps in this means that the market is not ready for a burst to the upside. Phase C: A decisive test of the remaining supply. SPRING: The next thing is the spring, this is the place where players get confused. When it dropped below the 2K sats support, everyone got the feeling that the only way was down, the big players are here trying to buy up any floating supply that they can find. When this is done (all) supply is dried up and a jump across the creek is likely. This was seen in the 3 days of pumping, we completely neglected all support and resistance and jumped straight up to the top of the trading range. Phase D: Consistant dominance of demand over supply. SOS: The sign of strength is a price advance with a increasing spread and relatively high volume. These usually confrim the bias of the analyst and justify looking for entry points. The jump towards 4200 sats was the Sign of Strength in this particular analyses. LPS: The last point of support is a point after the SOS which has flipped from resistance to support. As we can see we are now on the place where the whole wyckoff started. We are back at the bottem region of the TR and are now at the low point of the first SC. Combining this with the (perfect) touch of the 200 daily SMA and the touch of the 50 weekly (SMA) Makes us believe that there is a good change that this is the LPS. BU: The back up is usually referred to back up to the creeck and represents short term profit taking and a test for additional supply around the resistance area. Phase E: Demand is in full control! In summary: We have tried to show you our current market view on XRP as you have read this Wyckoff schedule is not yet comopleted, but we are near the end. In our opinion we are now beginning in phase D, which would mean that the 200 Daily SMA should hold for this analyses to be valid. If this holds then we might be in for a long profitable run up with the XRP cryptocurrency. We would love for you guys to share your thoughts on this nalyses, we have some experience with wyckoff schematics but we are not experts. So if you have some tips, tricks or extra points to include in this analyses please let us know! This analyses is only intended to share my idea, to educate and entertain you guys. This should not be considered as financial advice. I hope you guys enjoyed this analyses, if you did don't forget to leave a Like ! If you want to share your thoughts, please do so in the comments below! Kind Regards, Frank | Forallcrypto
Long
by ForAllCrypto
3
textbook wyckoff accumulation. i believe we are in a textbook accumulation. the last few times was chainlink the front running altcoin. i think this is in the cards again. there is a very clear pattern as you can see. also the market tends to "test" the previous all time highs. so there should be a lot of orders hanging in that area. the trading range is between 0,00067 and 0,00087. as you can see it tested this range several times. this is for the big players to test if theres a lot of sellers in the market. the test below is also to see if there is demand for chainlink. sometimes this patterns goes with a very aggressive spring or shakeout. this is the last test and to shake off all the weak players in the market. it also would touch a lot of stop-losses. i think the level for a spring should be at least 0,00056. the last 3 bullcycles it touched the ath also. and a 15% procent dump is for a altcoin not that much. this would be the perfect buy opportunity in my opinion. if there is no spring we have to look at volume, so we get an change in character. if we overcome the equilibirium at the approx 0.00076 level, i would consider to buy some chainlink. possible target for the coming future is the breakout of the 0,00087, and the previous all time high at 0,0016.
Long
by hendrik87
XRPUSD - POSSIBLE SCENARIO'S - LONG XRPUSD(UPDATE)Hello traders, I am extremely bullish at the moment. My previous idea's were followed perfectly, now I have 2 possible scenario's that I see. The bullish divergence on the RSI give me extra confirmation for a possible next bull run. Scenario 1: Bullish Pennant, XRPUSD has been making lower highs and higher lows, this indicates a bullish pennant pattern in which XRPUSD will break out to the upside and retest the .67-.70 resistance level. If it breaks this, I expect to hit 1.80-2.00 dollars soon. Again, bullish divergence on the RSI gives extra confirmation. Scenario 2: Wyckoff accumulation, this is in my opinion the most likely scenario, I still see a gap that could be closed by retesting the 0.45 support line. After this support level is tested and the market has shaken off panic sellers, I expect a run to 1.80-2.00 dollars soon. And it will not break 0.45 support line in my opinion. Fundamental confirmations: BTC is around it's ATH, back in 2017, the news was hyping the bull run, everyone wanted to buy at the top, that makes it a top, when your average Joe starts buying crypto, you know it's time to sell. There is no media hype like back in 2017 at the moment, this means that institutions and whales are buying cryptocurrencies, which indicate we have a much higher way to go. PS: DO NOT look at the time frames to base your expectations on, I can not predict time frames, I only indicate the patterns en possibilities I see. Most importantly, I do NOT have a glass ball, I could be completely wrong so do your own due diligence before entering a trade and do not trade based on my expectations. I do not trade, I just hold. GOOD LUCK!
BITSTAMP:XRPUSDLong
by Patralis
1
BTC (Y20.P5.E9).Price Action Looks bullishHi, Just making this short. With my updates on the previous BTC posts, I have been indicating we have a good chance to break this ATH for this year. Here is the bullish scenario using Wyckoff reaccumulation schematic 4 example. The only concern is the volume but that to can be increased if it breaks the top. There is a possibility of a double top however looking at the MACD on the 4 hrly makes that possibly less. Currently I cant see any bearish divergences on the mid range time frames. If anything a hidden bullish divergence in the making BTC dominance is also on the rise. Obviously if you haven't jumped in now, its better to wait for the pullback what ever that is. What are your thoughts? All the best. Regards, S.SAri BTC Dom chart
Long
by ssari
BTC/USD: Advanced Wyckoff Accumulation AnalysisIn this post, I will be analyzing Bitcoin's hourly chart based on the Wyckoff accumulation gradient of rising bottoms. Terminology - Preliminary Support (PS): This is where substantial buying begins to provide pronounced support after a prolonged downtrend. - Selling Climax ( SC ): This is the point at which widening spread and selling pressure usually climaxes and heavy panic selling by the public is being absorbed by larger professional interests near the bottom. - Automatic Rally (AR): This is where intense selling pressure is greatly diminished. - Secondary Test ( ST ): A point in which price revisits the area of the Selling Climax ( SC ) to test the supply and demand balance at these levels. - Last Point of Support ( LPS ): The low point of a reaction or pullback after a SOS (Sign of Strength) Analysis - Phase A: This phase marks the stopping of the prior downtrend. Up to this point, supply has been dominant. - Phase B: This phase serves as a function of a new uptrend. This is where professional interests accumulate, at relatively low prices, in preparation for the next markup. - Phase C & D: This is where Bitcoin's price goes through a decisive test of the remaining supply, allowing smart money investors to confirm a markup. If the analysis is correct, this is the phase in which consistent demand dominates supply - Phase E: The asset breaks out, leaving the trading range, and the markup is obvious to everyone in the market. Don't try to predict the market. Take it by levels, and play by probabilities. If you like this analysis, please make sure to like the post, and follow for more quality content! I would also appreciate it if you could leave a comment below with some original insight :)
BITSTAMP:BTCUSDLong
by Michael_Wang_Official
2
Rgsport, don't even think to call her real name!!!Been accumulating since the very beginning with clear chart pattern of cup and handle and possible inverted HnS on the right-hand side of chart (the classic accumulation pattern) This study is a little bit too optimistic by taking PnF TP all the way since end of 2018 till date as seen in the chart Grand PnF= 25x0.01x3 = 0.75 TP consv = 0.32 + 0.75(50%) = 0.695 TP2 = 0.32 + 0.75 = 1.07 Currently she just seems to be done JAC and a breakout from the Accumulation Trading Range. Bright side, she stay above the Creek for longer period now compared to previous few breakouts. So, very high chance she is now forming the LPS before the Mark Up phase. LPS intact as long as she doesn't break 350-360 support level (RBS)
MYX:RGTECH
by tradebrewer