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Wyckoffaccumulation

Bitcoin Wyckoff Accumulation 1H Last Point of SupportAs predicted bitcoin got rejected at the 38k yesterday, however after being rejected it flipped the previous resistance of 37k into support. After finding support on the 37k in combination with the 0.66 golden pocket fibonacci retracement of the very first wave after this we got a price increase and an increase in volume when we broke through 38k. We are currently close to reclaim the 39k, however, I think it is more likely to retrace back to 38k and test the previous resistance as support now. This is also supported by a .786 fibonacci retracement of the first wave and a .382 fibonacci retracement which provided support before. When the price holds above the 38k the likelyhood of breaking 39k and going for the 40k is much higher.
BITFINEX:BTCUSDLong
by DaanVerbeek
IQ Apparently in Wycoffian Terminal Shake Out (compare Silver)Introduction Bitcoin's recent markdown has put Wycoff and Distribution on a lot of new traders radar as well as investors who have not had to deal with this kind of pattern recognition. There were a lot of people that thought that it looked too picture perfect so disregarded it, Guess what? They were taken the most by surprise and I know what it is like to be there because I was there 3-4 years ago when I had problems believing in TA because so much of it so so bad. That leads to good news on IQ as IQ appears to be in Terminal Shake out and it is looking picture perfect. I have marked out the lower end of the action and have left the top alone because I think the indicators have done a good job showing that resistance. The volume on the final stage of the shake out is lower than what took us edge to edge on the bollinger band and value VPVR value area and this low volume helps us see that sellers are approximately exhausted. Another way to confirm the fact that the selling was relatively low volume is the Value Area did not move down. Much like a slow but persistent sell off can slowly bend a bollinger band lower and lower it can also drag the value area down. I have been watching IQ for a couple of years now and have a couple of posts. My last post was bullish and I was going to update it when I bought some calls and I never pulled the trigger. This time is a bit difference. I have the stock and I have some OTM calls already on the books. It might go lower somehow but my entry this week is pretty solid for a long term hold and I hope to trade the options like a degenerate. Indicators I have put the monthly bollinger band on the weekly chart to show that price actin has gone below the monthly bollinger band. That is a very solid entry point if you generally have any faith in the long term outcome of an asset. Price has also gone below the Volume Profile Value area which contains +/-1 standard deviation of volume by price. When price goes out of the Value Area to the downside when it recovers you often see price actin go coast to coast and end up at the top of the value area. If price action is as bullish as I expect price can hop out of the limits of the BB and VPVR Value area as you can see in silver. From there price would enter into a multi-month re-accumulation. The On Balance Volume with EMAs also has a bollinger band that I often don't show in my posts because if it isn't needed it just adds visual distractions. But the circles have shown times were a green week after a massive sell off has kinked the OBV at the bollinger band and price action has recovered. If you look at the second blue circle you can see how above the Volume Profile Visible Range moved down. That means the sell off hit a tipping point and was significant to move the whole visible range down roughly $5. That VPVR has not moved down in such a serious way with this dump. Silver Below is silver with the bollinger band and VPVR during the "Covid crash" and we can clearly see that buying with price action below both was a fantastic entry for a trade or investment. You should have the tools from the main chart to see all the key points of Accumulation. And I roughly expect something similar to happen with IQ. A rather quick move to or above the Point of Control and then a massive spike in price. I have not used the On Balance Volume because silver futures are a different beast with a different history. Fundamentals and Conclusion I think IQ has a very strong chance of behaving like silver did after its dump, so I bought some. Silver sold off for no good reason, as it didn't lose its industrial or intrinsic value and it is not like you can spread a virus by contaminating a silver mine and IQ sold off because some over-leveraged hedge fund degenerate couldn't answer his margin call, his stuff got liquidated and the momentum traders took this way too low. There was earnings a couple of days ago and it seems that the company can turn a profit within like, 5 years. Look at Facebook and Netflix below and how long it took these companies to have their stock clear the high of their first month of public trading. There is going to be a shake out off the weak hands. My only concern is a rout in tech stocks could take this lower but so far it is doing well.
NASDAQ:IQLong
by This_Guhy
3
Bitcoin Wyckoff Accumulation Have We Seen the Ultimate Low?At the moment of writing we are testing the 36k as support, when this holds it is likely that we are not going to another lower low in the near future. The 36k is supported by two fibonacci retracements and has been tested before. If we hold support it is likely that we will try to reclaim 37k for this to be effective and succesful an increase in volume is needed. However when we fail to find support on the 36 it is likely that we are going for a revisit of the 34k which is supported by the First Support line fo Wyckoff. As I said in a late night update last night, it looked like the price was forming a bull flag. Which a few hours later go a fake-out since the break was not supported by any volume. However a few hours ago we go at break to the downside, this was supported by volume. The downside target of the flag is also around the 34k which, if we break 36k, would indicate another signal that the price would move to 34k.
BITFINEX:BTCUSD
by DaanVerbeek
4
Bitcoin Wyckoff Accumulation Last Point Of SupportLast night we failed to reclaim the 36k, this was an important level if we wanted to see some more upside. After getting rejected on the 36k (which was also a .236 and 0.5 fibonacci level) we fell down to test the first support level of the wyckoff model, at the time of writing it seems to hold. When this holds we could see a small increase in price but in the optimal scenario we would like to see a second test of the support before we go higher. Therefore I think that an increase in price towards the 21 and 50 moving average is likely (~35,200) this is also supported by the 1.618 of a larger trend extension*, followed by a small price correction to retest the First Support. However, when Volume increases during the approach towards the moving averages it could be that we break through them and see another test of the 36k. * 1.618 of the larger trend, here you can also see that the low of last night was supported by the 1.272 of a fib trend extension.
BITFINEX:BTCUSD
by DaanVerbeek
13
BULLISH: Bitcoin at Wyckoff's Accumulation Phase?Hi everyone, Thank you for considering reading my idea. In this 1h chart, we may be in the middle of Phase C and starting Phase D of the Wyckoff Method - Accumulation Phase. In Phase D, we should see sign of strength (SOS) in the market that should be HIGHER than the automatic reaction (AR) and with higher volume. We can also see that we are making a HIGHER HIGH but less volume On the other hand, I also have a macro scale analysis of Bitcoin using Wyckoff. See my related ideas below. If you want to know more about Wyckoff Method, read here: www.wyckoffanalytics.com Like this idea and follow me for more analysis like this. TAYOR. Cheers, Juvs
BITSTAMP:BTCUSDLong
by Juvssss
16
Bitcoin Wyckoff Accumulation Change to schematic #2In contradiction to what I was saying in my previous analyses Bitcoin made a pump last night after finding support on the golden pocket level of a fibonacci trend-based extension (.618- .66) and creating a low at the 1.618 of a trend based fib extension *. Due to this pump I think that it is less likely that the bitcoin price will have a spring, therefore, I changed my price predictions more towards the second accumulation schematic of wyckoff instead of the first one. When this hold the ultimate low will be created on Monday/Tuesday after this we would see increase to test and flip previous resistance levels into support. At the moment of writing the price is trying to reclaim the 36k, which in my opinion is not very likely at this point. If the prices gets rejected at the 36 a small downside move is more likely to happen, this also te prevent the creation of a large weekend gap on CME (which, most of the time, need to be filled before we can move any higher). If (4) holds in the schematic an increase to the .786 of the first wave can be seen. However keep in mind that there is potentially some more downside and that (4) can be extended to the golden pocket where (5) and (2) also held support or in the worst case scenario to the .786 at ~33,100. * The chart below shows the 1.618
BITFINEX:BTCUSD
by DaanVerbeek
6
BTC Wyckoff Accumulation (A followup from my previous idea linked bellow) I believe this scenario to be less likely than my pervious idea but am posting it hoping for feedback. This is a second idea still keeping to Wyckoffs accumulation schematic. It may be possible that the accumulation period is shorter than I stated in my previous post. Changes: I've moved ST to just below AR. STB replaces the previous ST. If this is correct then it would seem that we are approaching the "SPRING" very much sooner at just below 28,000. Please comment on if you think this idea is or my previous idea is more likely.
by THE-GERA
BTC Wyckoff Accumulation This is my first time publishing an idea. I've been reading on bear patterns and came across "Wyckoff Acccumulation Schematic" on google images. I've attempted to forcast according to Wyckoffs schematic. I suggest googling it to compare it with what I've drawn. From my understanding, accumulation patterns precede a a large bullish momentum - so I see BTC resuming a strong bullish trend after June. Please comment on changes you would make to key points corresponding to Wyckoffs accumulation schematic
by THE-GERA