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Wychoff

BTC – Weekly Inside Bar and Wychoff AccummulationWhile the world plunges into a complex array of issues that threaten social destabilization across multiple fronts, Bitcoin has shown an unexpected level of resiliency. Through the past two weeks is has climbed from $53.4k to $67.4k and in so doing has confirmed a large Inside Bar in the weekly timeframe (orange circle). This is a bullish formation, typically demonstrating a trend reversal and in this case, comes after 16 weeks of a 3-3-5 Flat Correction. What’s more, when we look at the daily chart, one can see a pretty clear impulsive 5-wave pattern to the upside from the low, demonstrating a notable change in sentiment. However, through the corrective period a well defined Head and Shoulders pattern has completed, with confirmed resistance of the neckline through July 6-12. That projects a deeper correction down below the $45.4k level, or towards the 1.618 projection of the A-wave from B (the top of the H&S pattern), which target also happens to be coincident with the S3 support level of the weekly pivot. The inside bar is strong though, and price moved quickly back to test the 0.236 level of the declining channel. In doing so, BTC has reclaimed many critical levels including the 1W 12MA, the 1W 20MA, and the weekly Pivot point all now offering support. And as I’ve pointed out in my last post, historically, between a Halving and the next market top, the BTC price has never closed below the lower level of the weekly Bollinger Band, which now currently sits at $58.4k and has only dipped below 52.85 on the RSI once before (from which it launched strongly to a new market top). In fact, even when one looks at the Wychoff model for Accummulation/Distribution, we can make a strong case that we are only just completing the Accumulation stage in preparation for significant price appreciation, with Distribution phases still well into the future. So, what do you think? Was the break of the neckline a false signal and we are about to take a moon shot, or is this rally just a bull-trap and a deeper correction will follow?
INDEX:BTCUSDLong
by Crypto-Swing
5
VINC continuation play LONGHere on the 30-minute chart is my idea for the continuation of my VINC idea posted here before the current breakout. Price is presently in a consolidation ascending regression channel . The choices for a play are to wait for a break above or below the channel or alternatively play the price action inside the channel. Since price is currently at the bottom of the channel I will go long with a stop loss under the channel. Upon reaching the top of the channel I will close half the position and then watch for a break of resistance or a rejection down and then trade accordingly. Overall, I believe that this is a high-tight flap pattern and VINC is accumulating gradually and will move higher when the accumulation saturates as per Wychoff's theory.
NASDAQ:VINCLong
by AwesomeAvani
#XAU #XAUUSD #GOLD #DUMP #SOON #Distribution #Wychoff #Eddy#XAU #XAUUSD #GOLD #DUMP #SOON #Distribution #Schematic #1 : #Wychoff #Events & #Phases #Wychoff #Eddy ((" I have analyzed gold for you with a combination of Price Action + S&D + RTM + ICT + Volume Trading, Level 2/3 Book Map, Dow Theory + Wyckoff Schematic &... Please Dont forgot boost and comment, i will answer all comments. ")) By : Dr. #Eddy SunShine 👨🏻‍💻 1/18/2024 ❤️ "Thank you to #TradingView for making this extremely useful platform and also for providing this social space to publicize the charts and all the interesting features it has." Love you ❤️ #Eddy
FXOPEN:XAUUSD
by Eddy_Trade_
3
#MATIC #Polygon #Final #Update #Wychoff #Distribution #Eddy#MATIC #Polygon #Final #Update #Wychoff #Distribution #Eddy (("All the relevant areas and explanations on the chart are clear and clear, the trading setups need to get confirmation to enter, if you don't know how to get a trigger and confirm entering into transactions, this analysis is not suitable for you, the above analysis is for professionals. and if you are a beginner, my suggestion is that you don't destroy your capital and first learn technical analysis and basic trading along with psychology and risk and capital management from reputable sources and courses, and then enter the financial markets.")) (("The above analysis and setups and points and areas are combined with most of the combined styles such as price action, supply and demand, RTM, ICT and also with the analysis of important indicators such as Dominance Tether and Bitcoin. If you are familiar with the mentioned styles and know how to get approval to enter the above styles, use the above analysis. This is not an investment proposal and only my opinion, please act based on your experience and decisions.")) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ I also suggest you to view my #Analysis of the Phases of Richard #Wyckoff #Accumulation & #Distribution on #Bitcoin #Currency from the link below : ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Analyses of Trading Ranges By : Dr. #Eddy SunShine 👨🏻‍💻 1/14/2024 ❤️
M
by Eddy_Trade_
4
Wyckoff Distribution Schematics 1PSY—preliminary supply, where large interests begin to unload shares in quantity after a pronounced up-move. Volume expands and price spread widens, signaling that a change in trend may be approaching. BC—buying climax, during which there are often marked increases in volume and price spread. The force of buying reaches a climax, with heavy or urgent buying by the public being filled by professional interests at prices near a top. A BC often coincides with a great earnings report or other good news, since the large operators require huge demand from the public to sell their shares without depressing the stock price. AR—automatic reaction. With intense buying substantially diminished after the BC and heavy supply continuing, an AR takes place. The low of this selloff helps define the lower boundary of the distribution TR. ST—secondary test, in which price revisits the area of the BC to test the demand/supply balance at these price levels. For a top to be confirmed, supply must outweigh demand; volume and spread should thus decrease as price approaches the resistance area of the BC. An ST may take the form of an upthrust (UT), in which price moves above the resistance represented by the BC and possibly other STs before quickly reversing to close below resistance. After a UT, price often tests the lower boundary of the TR. SOW—sign of weakness, observable as a down-move to (or slightly past) the lower boundary of the TR, usually occurring on increased spread and volume. The AR and the initial SOW(s) indicate a change of character in the price action of the stock: supply is now dominant. LPSY—last point of supply. After testing support on a SOW, a feeble rally on narrow spread shows that the market is having considerable difficulty advancing. This inability to rally may be due to weak demand, substantial supply or both. LPSYs represent exhaustion of demand and the last waves of large operators’ distribution before markdown begins in earnest. UTAD—upthrust after distribution. A UTAD is the distributional counterpart to the spring and terminal shakeout in the accumulation TR. It occurs in the latter stages of the TR and provides a definitive test of new demand after a breakout above TR resistance. Analogous to springs and shakeouts, a UTAD is not a required structural element: the TR in Distribution Schematic #1 contains a UTAD, while the TR in Distribution Schematic #2 does not.
Education
by BasharatAliMaher
Possible Wyckoff on ETH 4hrSpotted a pattern that reminded me of the out of no where drop that hit back half way through the 2021 bull run where everything crashed around May if I remember right. It was clear as day after, but at the time no one I followed or knew called it in time. I am not a Wyckoff expert but doing a little mirroring I can find a rough pattern that resembles Wyckoffs example charts. Lets see if it plays out, if it does we would expect some consolidation followed by a rise up into the UTAD test area making a new but brief local high. Would expect further downside after that as well if they wyckoff is validated. Anyhow, this is NFA. Just another idea that I would like to see if out of pure curiosity plays out.
BITFINEX:ETHUSD
by NFVeej
1