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Reaccumulation

A Picture of the Channel is Worth Thousands for BTCChart is self-explanatory. I could really just post that picture and "BTFD" as a one-word explanation. Pretty much everyone, myself included, has been drawing the channel wrong for a month because there was no second touch of the bottom. In the past 24 hours there was - and now the channel makes so much more sense. We didn't break it at 9750 at all. We've always been in it. We're still in it. We're in fact at the bottom of it at the best point to buy. Accumulation has occurred throughout the entire month. Our detour of the past week shows clear reaccumulation in OBV and Accumulation/Distribution when you zoom in, and it's dramatically clearer if you filter out the shenanigans (single minute pumps and dumps). In retrospect, I should have given more thought to what it meant that the crazy stop hunt wick violated the previously unviolated channel bottom, because you can draw clear lines through that and other wicks to exactly where we found support here. That was probably the best clue to start looking for new channels, though explaining the apparent violation at the top also should have played that role. I suspect that a lot of people will start posting this channel, and assuming it's as real as it looks, it may find itself suddenly broken. Patterns get more expensive to adhere to if people start countertrading correctly. It's a new month after all. I'm an amateur and you definitely shouldn't take anything I say as financial advice. I'm interested in any feedback.
BITFINEX:BTCUSDLong
by acatwithcharts
3
BTCUSD is a Textbook Wyckoff Reaccumulation PatternAnother week of sideways in BTC turns out to be a much more exciting week of sideways than most - for the chart which has ranged nearly 15% from the local high has been a lot more volatile than it has been for awhile. Fortunately, the pattern is now really clear and I'm willing to put my butt on the line and say that the next major move up is soon to come. We have a pretty perfect Wyckoff Reaccumulation pattern, and you can readily place the labels. The extraordinary stop hunt, where in 2 minutes the Bitfinex chart went to 9500 to 8750 and then back to the previous pattern, starts making a lot of sense when you consider that it allowed the operator to test the entirety of the range and reaccumulate every stop, not only to the bottom of the range, but to even hunt very cleverly placed stops which were slightly below the purple line on the chart, which is a resistance that for nearly a month we've only ever wicked 1m candles to. I've shown a custom script that shows OBV excluding the top 20 percentile candles. This measure is intended to track the background volume by excluding large and usually single minute whale moves in order to see what's going on the rest of the time, and by its nature it works better the smaller the timeframe I use it on as the filter is then better targeted then at single minute volume spikes. Since 15m is the shortest chart TV lets you publish on, you'll just have to take my word for it that this background OBV pattern makes an even more compelling line upwards on the 1m, 3m, and 5m charts, and in fact shows a surge upwards in the consolidation near the SCLX, as expected for reaccumulation. If you were selling at any point this week, well, the operator was happy to buy. The only reason the operator would be happy to buy at 9000 is if the operator expects the price to be much higher than 9000 in the foreseeable future. We're now reaching the last stages of Phase D with Phase E (markup) soon to come. The triangle the bounds this reaccumulation pattern barely has a day left. If you take a quick look over at ETH instead, its similar pattern reaches the end of its similar triangle within about 12 hours. I'm an amateur and you definitely shouldn't take anything I say as financial advice. I'm interested in any feedback.
BITFINEX:BTCUSDLong
by acatwithcharts
1
YYW may be poised to enter a markup phaseYoyow is showing some interesting signs of life. After being added to Bitfinex, YYWBTC rallied nearly 1000% before taking some time to cool off. This period of consolidation is looking very much like a reaccumulation phase reaching peak maturity. YYWUSD appears to have jumped a creek and is currently retesting resistance created by prior all-time highs. After we see a substantial close above 0.50 USD, first targets are resistance created by the all-time high wick at 0.85 USD, and the volatility-funnel target, sitting just above the 2.618 fibonacci extension at 0.96 USD Overperformance on this rally may lead to prices over a dollar, don't get greedy and start scaling out where appropriate. I'll be looking to reclaim liquidated shares on the retrace, which will likely resemble a test of resistance-turned-support, either at the breakout levels of 0.50 USD or current all-time highs at 0.85 USD. YYWBTC is breaking out of a volatility funnel as well, showing increasing volume and spread on rallies and solid support with higher lows each time. A conservative target is pointing to a ~85% increase from current levels. YYWETH is interesting on account of that massive volume spike. Ethereum has enjoyed a great rally lately, so it is significant that there is so much volume from a highly-trending and valuable asset into YYWETH . No price targets generated from this graph, only an additional sign that we may be exiting a reaccumulation phase and beginning proper markup. Remember that markup phases can produce extreme rallies, so don't bail out completely until there is evidence of a strengthening counter-trend. Trust in a good entry and ride the trend.
YLong
by optictropic