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Wyckoffaccumulation

BTC Price Action Analysis - Wyckoff Cycle UpdateHello, traders! 10 days ago we did analysis on BTC about Wyckoff Cycle scenario and now we are going to give an update. Now we can see that the price formed triple secondary test after the trading range defining. At this phase the descending triangle pattern was formed and broken through. After that it reached the R2 pivot level of $37000. This is a very strong resistance, as a result we can see the price pullback to the triangle's upper band and attempt to re-enter, but there was a rejection. There is a potential price range between R1 pivot ($32800) and R2 pivot ($37000). During the current phase of the reaccumulation cycle it is high probability of the shakeouts in this range. But here we should be careful about the possible spring scenario. It is the fake breakdown of the trading range support. After that the bulls become to dominate on the market and the price can grow to the resistance line and form sign of strength pattern before the growth continuation. DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
by Skyrexio
4
AMC "spring" at the bottom has occurredIf you understand Wyckoff methodology, you can see the "spring" has occurred for AMC about a week ago. The high volume short candlestick, along with the gap up following the "spring" should be a good indicator of a move up about to happen soon. This is called "jumping the creek" according to Wyckoff. It's time to load up. Magenta line represents my call option strike price at $3.50, with the target of around $7 at the green line. If that green target is hit before my options expiration, I'm cashing out.
NYSE:AMCLong
by UnknownUnicorn10022610
MedMen: Wyckoff Accumulation PatternMedMen(MMNFF) has formed a Wyckoff Accumulation Pattern and is currently creating a potential ‘last point of support’ pattern in Phase C after a recent ‘spring’ and ‘test’ of the spring. Price is currently below a resistance level(red) at .22c which stems from a price peak made in September of 2020 and then again in December of 2020. Price must move above the .22c level before more gains can be had. The expected move going forward for price to continue pushing higher into a ‘build up’ pattern and eventually push on up toward the lower resistance line near $0.40/share. The blue line represents the anticipated path for price.
MLong
by PrepForProfit
1
Aurora Cannabis: Wyckoff Accumulation PatternAurora Cannabis(ACB) has formed a Wyckoff Accumulation Pattern and is currently in the ‘build up’ cycle of Phase D aftering having successfully created a ‘spring’, a ‘test’ of the spring and a ‘last point of support’. Price is currently testing the top ‘support line’ which is currently acting as resistance and stems from the ‘automatic rally’ seen back in March of 2020. The expected move going forward for price to continue pushing higher in the ‘build up’ and eventually push on up toward the lower resistance line near $20/share. The blue line shows the projected path for price.
ALong
by PrepForProfit
2