Take it or leave it. We will see...
Art speaks for itself. Buying at 11150 after a solid retest with volume confirmation. If we break 11150 with volume spike. then 10600 is next demand zone.
Within this correction it is pretty obvious Wave B has ended beyond the start of Wave A. This leaves two possibilities fro simple corrections: a running flat or an expanded flat. Running Flat: - B ends beyond the start of A - C ends before the end of A Expanded Flat: - B ends beyond the start of A - C ends well beyond the end of A So which avenue do...
Flat: B ends near the start of A C ends near the end of A Wave Count = 3,3,5
ANALYSIS: 1. RSI Hidden Bullish Divergence. --> price higher lows, RSI lower lows 2. 11150 holding as support 3. Demand absorbing candle (long-tail wick) TRADE OPPORTUNITY: 1. Entry = 11300 a) H$ demand zone b) beginning of Wave C of a triangle c) ascending trend line support 2. Stop Loss = 11100 a) end of long-tail wick...
View this link to Bulkowski Wave Patterns: thepatternsite.com The three wave move from 12.1k to 10.5k could be our leg A. Using fibonacci extensions of leg A, our current 3 wave move from 10.9k could be subwaves 1 and 2 of wave B. This would mean we hit a Lower High at resistance around 10.8k to finish leg B, and return to ~10.7k to complete leg C. Will check in...
Confluence of Short: 1. Supply zone met at 11750; rejected 2. RSI bearish divergence (price HH, RSI LH) on 1H and 12H 3. Spinning top candle signifies reversal 4. Extended beyond 100% FIB retracement without meeting supply of a higher level. 5. Over-extended price should correct to liquidity/demand bloc What the Future Holds: 1. ABC correction is common after...
Analysis of Supply/Demand: 1. Liquidity @ 10250, and July 26 consolidation marked buying pressure before recent pump to 11400: demand block 2. Liquidity and numerous retests within July 28 ABCDE triangle correction tested 11030 as support: demand block 3. Selling pressure and slight liquidity @ 11400 mark resistance at 11400: supply block Fibonacci...
This post will highlight Bitcoin's long term price action to the Wyckoff Distribution schematic. At the end I will establish numerous trading opportunities to prepare fro the dump... Before I explain the near-perfect similarities to Wyckoff Distribution, click the link below to see an image of the phases of Wyckoff Distribution. View this image and then Bitcoin...
This is almost too perfect of an example. A classic five wave impulse with an extended fifth, meaning the W5 is longer than W1 or W3. Each of the impulse waves (1, 3, 5) consisted of five subwaves. In addition to this, an ABCDE triangle consolidation tends to happen on W4 of a 5 wave impulse, which in this case it did. To mark the end of this magnificent rally,...
As seen on Crypto Twitter, the recent ABCDE consolidation seems to be W4 of a 5 wave impulse. Today's break out of the triangle consolidation should be W5. Noticeable resistance, liquidity, and fibonacci extensions reside at two places: 1. 9800. This is 1.272 fib extension and resistance from late June 2. 10000. This is 1.618 extension and resistance from...
If Bitcoin forms a higher low at the Liquidity @ 9515, a clean ABCDE triangle correction would begin to form. I would expect the E Wave to finish around liquidity (0.786 retracement) @ 9580, and then impulse to 10k. If this plays out I would look to open a long after E Wave finishes. This is subject to change... Entry: 9580 Target: 10000
1. ABC correction beginning, we are currently in B wave 2. VPPR indicator shows high liquidity @ the 0.5 retracement (0.199) 3. After ABC comes 12345 impulse to test range highs from May/June 4. New resistance is around 1.414 extension, along with VPVR liquidity Long Entry: 0.1991 Stop Loss: 0.196 Trigger Price: 0.219 RR: 6.27 % PL: 10.51 (spot)
Let me start off by linking a textbook example of Wycoff Distribution. Understand the phases and then move on to this Bitcoin chart. Dropbox Screenshot: www.dropbox.com Article: tradingcoach.co.in WYCOFF DISTRIBUTION The phases of distribution follow a rhythmic pattern. After a major dump, smart money will accumulate a cheap asset, which causes a Buying Climax....
Potential Wycoff Distribution. Would coincide with decreasing volume to confirm June-July as distribution and not re-accumulation.
Pretty self-explanatory. The neckline seems to be angled instead of flat. Extending the trend to the right shoulder, and seeing that there is high liquidity @ 8600, a correction to the neckline would not surprise me. From then on the next notable resistance (and liquidity) is ~12500. I have seen arguments for that ranging just under 10500 as either...
Not in favor of this bearish sentiment, but it is worth pointing out as a possibility.
From the origin of Bitcoin to the peak of each bull run, a trend line was drawn. Using the "trend angle" tool I found the angle corresponding to each bull market. Bull Run 1 (2010-2011): 74 degrees Bull Run 2 (2012-2013): 56 degrees Bull Run 3 (2015-2017): 41 degrees Bull Run (2020-2022?): 30 degrees? By comparing the angle of the previous bull run to the...