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Wyckoff

BTC still in accumulation phase?BTC has been showing some signs of a potential reversal. Once again by using Wyckoff guidelines, I think that an accumulation phase is on going. A reversal will be confirmed when the "upward sloping accumulation structure" (in 2D TF) will have been completed. It means that the $30000 is a key level. Before approaching this level, BTC may be still fluctuating, in accordance with the macro factors' uncertainties (stock markets, FED decisions, war...). In my opinion, BTC would revisit the $20000 level. This would be a good opportunity to accumulate BTCs (with precaution of real breakdown that "Accumulation" is invalidated and becomes "Redisctribution") PS: Even if the prices don't follow exactly the theoretical Wyckoff structure, the resistances/supports and events would still be useful for trades.
BITSTAMP:BTCUSD
by evasivesteering
6
BTC - potential double bottomHello, It's been a while since the last crypto pair update I made, but since we are more or less in a full blown bear market I decided it is worth the time to start sharing ideas again without the need to include moon targets in every post to gain viewers etc. The gameplan here is simple. On the main chart - BTC/USDT on 1W we see a clear Double bottom pattern in the making. If we manage to get a proper upside and break the neckline then we get our reversal with main target right above the long-term diagonal resistance line around $32,000. We lose $19,000 and the doors to the $10,000-$12,000 OB will be wide opened. Now, switching to the 1D chart, I cannot pretend I cannot see the similarities between the price action in the last few months and the Wyckoff Distribution Schematic #2. So we might have entered Phase E which is the final act and we are about to see the final capitulation before starting the cycle again. There is a big chance we are in Phase A of the ACCUMULATION already which suggests a re-test of the support will be next. Then we can see something like this: As always, we need to adapt to what is going on on the charts as they evolve and are impacted by both TA and fundamentals. Cheers,
by FutureBlockchain
7
ETH - diamond top or the beginning of accumulation phase ?Hello, Looking at the ETH post merge can note few observations: 1. We are most probably in a Diamond Top reversal pattern on the 1D chart which is already in play ---> Target: The previous range high right below $1,300. 2. The current price action on the 1D chart looks A LOT similar to the one we had back in the period February-May, 2022. 3. The ETH/USD 1W chart suggest a Wyckoff Distribution #2 is still in play with the price being in Phase D currently. So, we are looking at the following grim scenario 4. But what if we are already in the Accumulation phase ? (bullish case) Well then we are to see something like this Cheers,
by FutureBlockchain
3
Weekend analysis for EURUSD >> BullishJust finished my weekend analysis video and figured I would share my 4H chart. Following the drive up on Friday, creating a near perfect accumulation schematic, I am very bullish on EU next week. But only until Wednesday as FOMC could cause price to go either way following the int rate hike announcement. First target is 4H imbalance & 4H supply. If supply breaks, then 2nd target is daily supply. I have this idea, after seeing what happened with CPI, if the Fed sticks with the expected 75 bp, it could cause complete disappointment and DXY to continue to the downside. But its just a theory and we will have to wait and see to what extent the the Fed increases the int rates and how the market reacts to it.
Long
by AfterlifeTrading
3
Smart Money Concepts in action - 30% profit, runningGood Day. In principle, Smart Money Concepts/Order Block Strategies/Wyckoff (to name just a few), aim to do one thing - identify where Banks & Financial Institutions are stacking their buy or sell orders, anticipate Retail Trader stops being liquidated, and jump on board to ride the wave with the Smart Money. OTB (On The Beach) is a UK-based travel operator, a sector that's been beat-down heavily in recent weeks - and recently re-visiting its Covid Lows. Perfect opportunity for Smart Money to manipulate the market, trap sellers and liquidate early buyers who sold off in fear. BFI's do this every week - rinse and repeat. Our Strategy anticipates the 'washout', and enters on c.50% fib of the Spring. Let me know what you think of the trade set-up above - we anticipate holding on for a good deal longer, for a 2-3X return. Best, Figuring Out Finance
LSE:OTBLong
by FiguringOutFinance
$META Wyckoff Accumulation - Panic Selling - FACEBOOK BULLISHMeta - Facebook Chart resembling a Wyckoffian pattern - occurs in accumulation phase. You can see Facebook has had a big downfall from its top in September 2021. We can view the selling climax, preliminary support, and the secondary test - this particular pattern has a spring currently (panic selling) (breakdown of continuation). This is NOT the last line of defense for META, it can absolutely drop down - there is huge support at $139 - which would tap the lower trend of the falling wedge (marked in light grey trendlines). HOWEVER!!!!! -- check out the descending channel within the falling wedge - (descending channel is marked in green and highlights the Wyckoff Schematic ) and it seems to have found support at the 'spring' - bottom of the trend. This is generally a bullish pattern. To the left we can see a huge capitulation volume bar from February 2022 and the price as been descending all summer - selling volume is also in decline which is bullish. This is not financial advice but this is my take on $META
NASDAQ:METALong
by ChaldeaCode
5
Ethereum Classic Wyckoff RE-AccumulationMost are familiar with accumulation/distribution schematics but, most are not familiar with reaccumulation schematics which you find in STRONG markets & have many similarities to distribution. There are a few ways this can go moving forward. The main thing to look for is the creek forming and the volume when the price action comes down to the lower of the range again. Being that ETC has alot of miners jumping back over to mine ETC since the ETH merge is right around the corner ETC has some strong price action coming in. Here are the definitions for the for the accronyms on this RE-Accumulation schematic for a better understanding of each move. PS—preliminary support, where substantial buying begins to provide pronounced support after a prolonged down-move. Volume increases and price spread widens, signaling that the down-move may be approaching its end. SC—selling climax, the point at which widening spread and selling pressure usually climaxes and heavy or panicky selling by the public is being absorbed by larger professional interests at or near a bottom. Often price will close well off the low in a SC, reflecting the buying by these large interests. AR—automatic rally, which occurs because intense selling pressure has greatly diminished. A wave of buying easily pushes prices up; this is further fueled by short covering. The high of this rally will help define the upper boundary of an accumulation TR. ST—secondary test, in which price revisits the area of the SC to test the supply/demand balance at these levels. If a bottom is to be confirmed, volume and price spread should be significantly diminished as the market approaches support in the area of the SC. It is common to have multiple STs after a SC. PSY—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.
by Savvythe1