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Wyckoffspring

Bitcoin Analysis - Textbook Case of Wyckoff Downtrend to $4,800In my last chart, I had emphasized that the Wyckoff's Spring is likely at the $6,000 level (aka The Walls of Westeros) provided that price bounces from $6,000 and not any higher. Why is that? Well, it is important to remember that the Wyckoff's Spring needs to be a lower low. Of course, this is all based on the assumption that Bitcoin is really trending according to the Wyckoff Events. If that is truly the case, then the current downtrend should also follow other Wyckoff rules that govern a Wyckoff Bear Cycle like distribution, breakdown and markdown. Out of curiosity, I created the above chart with all those rules applied and it turned out exactly like what a textbook Wyckoff Downtrend chart would look like. Here is a link for you to compare it: d.stockcharts.com You can understand more about Wyckoff Market Analysis here: stockcharts.com Please LIKE and FOLLOW if you enjoy this.
BITFINEX:BTCUSDEducation
by cryptoezvip
41
3,2,1...Takeoff! XBTEUR!Datetime : 23 Feb, 20:47 Berlin Time What is the current state of price movement in the trading time frame (4H) ? It looks like we are just concluding the second leg of the downtrend (including pullback) and just starting the third leg. Pullbacks are lasting for 3 bars approximately. The current pullback is also testing two important levels simultaneously - the important level at 8181.1 and the descending trend line. The descending trend line was breached but was conquered again in the pullback. Since it's only the second leg of the pullback and no serious upward momentum has emerged, odds are that the trend will continue. But assuming 8181.1 to 9426.5 is a range, we have Wyckoff spring like action near the bottom of the range, indicating that this is an accumulation level, indicating that the price will go up from this point onward. What is the current state of price movement in the trading time frame (1D) ? Looks the same as the last analysis on 21 Feb. There is a breakout of both the descending trend line and the level at 8181.1. But it isn't clear yet if it is a successful or unsuccessful breakout. The bar after the breakout is green, indicating that the breakout is not clean. Odds are that the uptrend continues (and the current downward movement is just a pullback - note that there is no significant new low in the MACD) or becomes a range between 8181.1 (most likely) or 7418 (less likely) and 9426.5. What is the current state of price movement in the trading time frame (1H)? The 1H timeframe tells a different story. In this timescale, it seems that there has been 3 pullbacks already in the downtrend. The penultimate pullback already looks questionable, with significant high momentum and the fourth leg was prematurely interrupted to give rise to a sudden upward movement which showed up as a significant new high in the MACD. This indicates that the downtrend has run out of steam and we will see an uptrend. Most likely, the last upward movement is the first leg of an uptrend. What trade is most reasonable in this situation? Let's start with the higher time frame. As we discussed, continuation of the uptrend or a range is most likely in the cards. The trading time frame is inconclusive. The lower timeframe indicates that the downtrend has stopped, in which case, this is the end of the pullback or indication that 8181.1 is holding as support. Given this information, an "anti" trade seems reasonable and we seem to be in the right pullback at the moment. The pullbacks are supposed to last for 8 bars, and we are in the 5th or 6th bars, which should be reasonably close to a good level to enter the trade. What about the stop? The stop can be placed beyond the last low at 7800, perhaps at 7600 (because the most important action that happened near the level 7800 is a range between 7800 and 7679. If 7600 is the stop, the first profit target should be around 8600. If the trend continues, we can try to extract more profit. What market structures might emerge which contradicts the rationale behind the trade? If sharp downward momenttum emerges now, that indicates another downward leg might happen. The current bar should not be able to close too far away from 8181.1, wait and see till 22:00. If it does, well it doesn't completely contradict the trade, but doesn't support it either. Then wait for another bar to see if upward momentum emerges. (Okay, at 22:00, we have a Wyckoff spring, so that's a good sign) Trade that I executed: Time of entry : 22:07 Berlin time Type of trade : Limit buy Direction : Long Trading Pattern : Anti Entry : 8133.8 Stop Loss: 7550 Take Profit : 50% at 8650 (conservative end of next trend leg) and 50% at 9426 (since this is the next important level, the uptrend should get it there after a few legs) Results will be posted when the trade concludes. Disclaimer: This isn't trading advice. DYOR.
Long
by IHasACrystalBall
EURUSD Long Term Accumulation and MarkupOver the last 3 years, EURUSD has undergone a classic Wyckoff method accumulation, starting with a selling climax in early 2015, and ending with a Sign of Strength and Backing Up Action in the second half of 2017. The Mark Up phase is well underway, and horizontal Point and Figure counts that span the width of the accumulation point to the potential for new highs above 1.60, possibly to 2.31 - 2.43. Look for a pullback to the uptrend or the resumption of the mark up following a re-accumulation period.
Long
by tsellers33
EURUSD - 2018 Upside ? (Wyckoff)The Wyckoff cycle is a well-known price cycle that is really powerful. In 2 years of trading, I never saw anything that close to it, at least not on a higher timeframe like the daily timeframe . It is clear as day! That being said, could we consider an upside continuation for 2018 ? USD would continue to lose value, pushing the price up? EUR would go up as well? I'll publish the Wyckoff cycle in the update section. Consider it, and tell me what you think in the comments. Happy holidays to everyone who reads this!
Long
by bbatrading
2
Anatomy of a trading range - Jim Forte - Bitcoin/WyckoffI've been studying Wyckoff for a while now, but I have a renewed vigor in the last few weeks when it comes to bitcoin. Much of it is easy, but I always have trouble when it comes down to re-accumulation or distribution - or flip side, re-distribution or accumulation. Anyway, long story short, i think the strength of the spring says that this is not a distribution period, it is re-accumulation. When combined with more classic analysis this point of view gets stronger. When combined with fundamental analysis of Segwit activation and strength in the face of BCC/BCH it gets stronger still. I expect breakout of ATH within a few weeks. I'll let you figure out your own targets but as I've said on my twitter, barring fundamental chaos, we will never see 1800 again.
BITSTAMP:BTCUSDLong
by ITradeEverything
3