FOFAgent1

FOFAgent1

Always interesting times in the world of Bitcoin. My hope is that regardless of what Technical Analysis you use, either you were positioned short or sold at the top before the 3% correction earlier today. For about the last 16 hours or so, the 4H Intraday chart has been reflecting a price pinned beneath the upper trendline on increasing volume, while the lows...

FOFAgent1

The 4 Hour Intraday Chart is still showing a bullish bias within the Wyckoff Distribution range. Confirmation played out yesterday as Bitcoin first fell to the $9,600 support level (in an epic shakeout) then moved higher to the high end of the range, topping out at $9,940 before turning lower to $9,440. The initial price projections (Based on a Point and Figure...

FOFAgent1

Happy Friday. The trading methodology I use is Wyckoff/Point and Figure. It would appear BTC is in the midst of a Wyckoff Distribution Phase at the current time. Based upon the chart, the sudden price mark-up which peaked out at $9,460 both exhausted the cause built from the accumulation phase, and signaled the preliminary supply for the start of a distribution...