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Re-accumulation by Wyckoff: BTC ready to skyrocket?Richard Wyckoff's methodology is one of the fundamental bases of technical analysis, allowing for a deep understanding of market structures and cycles. In this article, I want to present my analysis of the re-accumulation structure on the BTCUSD chart, which I created using the main principles of Wyckoff. It is important to note that real market data can differ somewhat from textbook examples, but the main idea remains unchanged. #### Introduction to Wyckoff Methodology Wyckoff's methodology involves analyzing market phases: accumulation, markup, distribution, and markdown. However, in the context of a continuing bull market, additional phases such as re-accumulation can be observed. The re-accumulation phase occurs after the initial markup and is characterized by a temporary sideways movement, followed by further growth. #### Key Elements of Re-accumulation Before diving into the specific analysis of the BTCUSD chart, let's break down the main elements of the re-accumulation structure according to Wyckoff: 1. **PS (Preliminary Support)**: Preliminary support – initial signs of stopping the price decline, accompanied by increasing trading volume. 2. **BC (Buying Climax)**: Buying climax – a sharp price increase with high volume, followed by significant decline. 3. **AR (Automatic Rally)**: Automatic rally – price recovery after the buying climax. 4. **ST (Secondary Test)**: Secondary test – price returns to previous support levels to test volumes and demand levels. 5. **UT (Upthrust)**: Upthrust – temporary price move above resistance level, followed by a return. 6. **Creek**: The upper boundary of the sideways range or resistance level that the price needs to break. 7. **Spring**: A sharp move down that quickly recovers, often aimed at testing support. 8. **Test**: Testing the support level after the spring. 9. **LPS (Last Point of Support)**: The last point of support before the start of a new uptrend. 10. **SOS (Sign of Strength)**: Sign of strength – significant price increase with high volume, indicating the start of a new trend. 11. **Jump across the creek**: Breaking the resistance level with subsequent consolidation above this level. #### My Analysis of the BTCUSD Chart On the BTCUSD chart, I tried to apply all the above elements of Wyckoff's methodology to identify the re-accumulation structure. It is important to understand that real market data can be more complex and contain additional repeating elements that are not always present in textbook examples. ##### Phase A: Accumulation In the initial stage, at the end of February – early March 2024, we see **PS (Preliminary Support)** – areas of initial support where the price starts to stabilize after a prolonged decline. The **BC (Buying Climax)** occurs in mid-March 2024, where the price sharply rises with high volume, followed by **AR (Automatic Rally)** – automatic rally, and **ST (Secondary Test)** – secondary testing of weak support level around 65,000 USD. ##### Phase B: Range Formation Starting in April 2024, the market enters the range formation phase. We see an attempted upthrust (**UT - Upthrust**) in April 2024, which quickly returns to the resistance level around 60,000 USD. **Creek** is the resistance level marked on the chart in the range of 68,000 - 72,000 USD. ##### Phase C: Spring and Test In mid-June 2024, there is a sharp downward move (**Spring**) to the mark of 56,700 USD, which quickly recovers. This element is crucial for confirming support. The next step is the **Test** of the support level around 60,000 USD, which checks if the price holds at this level. After Phase C, it is necessary to mention the third and fourth tests of the important resistance level around 72,000 USD, followed by a false breakout of the 60,000 USD level and a dip to 58,000 USD. ##### Possible Scenarios 1. **Second True Spring**: A second true Spring is possible with a new low around 56,700 USD, followed by a test of **LPS (Last Point of Support)**. 2. **Consolidation above 60,000 USD**: Alternatively, there may be consolidation above the 60,000 USD level, followed by a test of **LPS (Last Point of Support)** at the 65,000 USD level. ### Conclusion My analysis of the BTCUSD chart using Wyckoff's methodology and re-accumulation structure demonstrates how theoretical knowledge can be applied in practice. It is important to understand that real market data is often more complex and requires a flexible approach. Nevertheless, Wyckoff's main principles remain useful tools for understanding market cycles and predicting future price movements. This analysis helps traders better understand how large players manage the market and how to use this information to make informed trading decisions. I hope my analysis will be useful for those who strive to deepen their knowledge of Wyckoff's methodology and apply it in the real market.
BITFINEX:BTCUSDLong
by nefyodov.artyom
1
MATIC - giga rally loading?Polygon (MATIC) is looking really promising right now, thanks to some major upgrades and smart moves. They’ve just rolled out Polygon 2.0, which is a huge deal. This upgrade introduces a new token called POL that’s designed to handle a lot more transactions and different roles within the network, making it super versatile. What’s cool about Polygon 2.0 is that it’s all about making the network faster and more connected. They’re using advanced zero-knowledge (ZK) technology to cut down on costs and speed up transactions. This means that developers can build even more efficient and scalable applications on Polygon. The community and developer support for Polygon is also a big plus. They’ve got a ton of resources and tools available for developers, making it easier to create and launch new projects. Plus, with their new Chain Development Kit, developers can easily create custom Layer 2 chains, adding even more flexibility to the platform. On top of that, Polygon has made some strategic acquisitions, like buying Toposware, to boost their tech capabilities. These moves show they’re serious about staying at the forefront of blockchain technology. All these factors combined make MATIC a token worth watching. With all the upgrades and strategic initiatives, Polygon is set to drive higher adoption and increased transaction volumes, which is great news for anyone holding MATIC. I believe from September til March 2025 we will see a hot crypto market. Hot enough to see a lot of coins rally.
CRYPTO:MATICUSDLong
by TheTraderAndy
1
Highstreet (HIGH)On the above 4-day chart price action has corrected over 75% since the long idea published earlier this year topped out. Now sellers using emotions have provided you with a 2nd opportunity to go long. Why? 1) You know why.. The same conditions as before. 2) Price action resistance breakout. 3) Support and resistance. Price action returns to past resistance. Look left, green squares. Is it possible price action could fall further? Sure. Is it probable? No. Ww Type: trade Risk: <=6% of portfolio Timeframe: Now Return: Will say elsewhere
Long
by without_worries
49
Still in a Bull Market..180k by March 2025?From my analysis, using Fib Time, Fib Extensions, Fractals, Market Structure, and the current price action forming a bull flag, I placed my rough fractal idea over the top of the BTC chart alongside timing.. Double/Triple top could play out to finish off this cycle.. or it could be a blow off top (less likely with more capitalized markets.. 173-182k is my top target for this cycle.. though price could fall short of this.. if this plays out, then I'd expect the next market bottom to form around current prices (~57k in November 2026)
BITSTAMP:BTCUSDLong
by TheTraderAndy
EUR/USD Outlook ICT Concepts💰 Welcome to Your Channel! Welcome to our channel where we delve into the intricacies of financial markets. Today, we focus on EUR/USD , dissecting its current price action to uncover strategic trading opportunities. Join us as we analyze key levels and market dynamics, aiming to refine our trading strategies and maximize potential gains. 📈 Anticipated Price Retracement In our previous EUR analysis, we projected a price retracement to mitigate inefficiencies, including Gaps and Fair Value Gaps ( FVG ). This forecast materialized, with a notable reaction at the FVG created post-Market Structure Shift ( MSS ). 📉 Expansion and Sell-Side Liquidity Subsequently, the price extended lower, targeting and absorbing the sell-side liquidity ( SSL ). Our analysis had delineated Optimal Trade Entry ( OTE ) levels, which the price action respected, exemplifying an optimal scenario. 🔄 Reaction to Fair Value Gap Presently, the price has retraced to the delineated FVG, exhibiting a significant reaction at the 50% (CE) level of the FVG . This movement also induced a Smart Money Technique ( SMT ) divergence with GBP/USD . 🧠 Understanding Smart Money Technique (SMT) You may inquire about SMT: in this context, SMT manifests when EUR registers a high, fails to achieve a higher high, and instead forms a lower high, whereas GBP/USD attains a higher high. This divergence signifies a bearish SMT , particularly when aligned with existing inefficiencies (FVG). 🔍 Outlook: Bearish or Bullish? To consider a bullish scenario, the price must invalidate the SMT. Should the SMT persist, our stance remains bearish until pivotal levels, such as the Previous Week Low ( PWL ), are achieved. 🙏 Thank you for joining us! Exploring EUR/USD today highlighted the importance of effective risk management in trading success. Prioritize research, implement robust strategies, and seek guidance for confident market navigation. Stay tuned for more insights on our channel. Here's to profitable trading and continuous learning! ⚠️ Disclaimer The information provided here is for educational purposes only and should not be taken as financial advice. Always conduct your own research and consult a licensed financial advisor before making any investment decisions.
by RealArmin
BTC FRACTAL - 20% Correction PossibleLet's do a quick recap on Bitcoin. I rediscovered a fractal from a post I made a few months ago, which compared BTC price action to NVDA price action after making an ATH. Currently, there is another Bitcoin fractal based on the M-Pattern and we take a deep dive into how far this correction could go. I'm labelling this post as "short" simply for the lack of better options. I do believe the price will correct lower, but I wouldn't take a leveraged trade so close to the a new ATH. Link to the earlier comparison with Nvidia: ___________________________ COINBASE:BTCUSD BINANCE:BTCUSDT
COINBASE:BTCUSDShort
by CryptoCheck-
BTC vs NVDA Fractal 📈📉Hi Traders, Investors and Speculators of Charts📈 Fractals are a helpful way to identify how markets have previously moved. When identifying a similar pattern, it can be useful to speculate future potential price action. In my previous updates, I've mentioned the two scenarios that I foresee for BTC after reaching a new ATH. The one was a correction, and the other was range trading until after the halving. Find the previous Bitcoin post here: When we compare BTC to how Nvidia has been moving, we see a very similar corrective pattern play out, followed by a steep increase. Then, after a period of sideways/range trading on NVDA, the price continues to even higher highs as it increases parabolically. Could we possible see something similar on Bitcoin? I think it's worth keeping an eye on this fractal and expect some boring price action for a while on BTC. If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets. _______________________ 📢Follow us here on TradingView for daily updates📢 👍Hit like & Follow 👍 CryptoCheck NASDAQ:NVDA MEXC:BTCUSDT
NASDAQ:NVDA
by CryptoCheck-
CADCHF Trading Plan - 18/Jun/2024Hello Traders, Hope you all are doing good!! I expect CADCHF to react from the highlighted zone. Currently CADCHF is in bigger correction & I am still seeing the potential bigger move towards upside. Plan to Trade: If market starts to correct from current levels upside, then short term sells are possible. Look for your BUY entry setups as per the above expectations. Your follow and like will be a token of appreciation. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
Long
by For3xScalper
2