Get started

Wyckoffmethod

BTC Wyckoff AccumulationPS - Preliminary Support (buys provide a bounce to slow move down) SC - Selling Climax (Buys absorb remaining sells , end of panic sell off) AR - Automatic Rally (Price rise caused by volume buys and lack of sells on the orderbook) ST - Secondary Test (retest of support, may occur multiple times) Shake Out - Volume sell to drop price encouraging inexperienced traders to close their longs opened at ST and possibly cause additional panic sells Spring - Buy orders filled from Shake Out and price rises sharply and orders clear remaining sell orders Test - Test of available supply. Low supply results in price mark up breaking previous resistance levels SOS - SIgn of Strength (Often a result of high volume buying or fomo after a spring) LPS - Last Point of Support (Test for Resistance / Support flip, Puillback) BU - Back-up - After a jump across the creek move, the price often experiences retest of support and will pull back close to the low after the SOS TR - Trading Range (Caused by profit taking at the end of the SOS and re-accumulation at the new price range) Length / duration can vary. Set range high as next high after SOS Set range low as LPS after SOS
COINBASE:BTCUSDEducation
by paulflint
1
$SPY $GOLD $DOLLAR walk into a bar Team, Welcome to another overview of the long term landscape of the market. It's been several months now since we've turned bearish on the overall market and although nothing seems to have happen yet, I just want to say that NOTHING HAS CHANGED (STILL BEARISH!). * TAKE AWAY FROM POST: We're expecting to see A Weaker Dollar A Rise in Gold Prices A significant market pull back Now Let's get into this chart. So what we have here are three line charts (Dollar index - TOP GREEN , Gold index - MID GOLD and SPDR Index - BOTTOM BLUE). As we can see there something changed dramatically right before the market peaked in Sept 2018 and the melt down that followed through to the end of the year. What do we mean by this, prior to the Sept 2018 peak we saw the inverse relationship between the Dollar and Commodities (e.g. Gold, Silver...) (Red and Green arrows); however, once we peaked in 2018, both gold and the dollar have started to move in the same directions significantly (Purple Arrows) (dollar advanced ~ 20% while Gold did ~30% for the same period). By the start of the year we started seeing almost all the market moving in the same direction higher. Just another red flag that something isn't right in the current environment. (NOTE: The volume chart was left out in order to conserve space, but it is absolutely necessary for better understand of Wyckoff method. Also, only showing just an overview of the distribution schematic of the dollar. Will need to look at it own chart for full analysis) another thing to point out is the fact that the dollar to be in this distributive Wyckoff pattern where: PSY: preliminary Supply BC: buying Climax AR: automatic Reaction ST: secondary Test SOW: sing of weakness UT: upthrust MSOW: major sign of weakness UTAD: upthrust after distribution (Rising Wedge in blue) Now, we can't really confirm that this is truly distribution into we see a breakdown. By all means it could just be a period of re-accumulation, but this is very doubtful. Also the fact that the dollar has been rising in the Rising Wedge pattern is another red flag signaling that we may see a weaker dollar in the weeks/months to come. And goes the dollar, so does the market (Although this pattern was kinda distorted in 2015). As always... ***Let's talk about it...***
AMEX:SPYEducation
by PartTimeGenius
6
Consolidation before expansion -- Bitcoin's path to $9600.Good morning, traders. Alts continue to push upward while Bitcoin moves sideways. A preview of things to come? Most likely. While a true alt season won't begin until Bitcoin finishes a true bull run, we should see good days for alts along the way at these points where we find Bitcoin consolidating/moving sideways. I realize there are people out there calling for further movement down before the start of the next wave, however as I outlined last night, price appears to be in reaccumulation (hence the sideways movement). This reaccumulation has created a pennant and price is currently nearing its apex. Price appears to have completed the ABCD portion with only the E remaining. As such, it does appear that we are in subwave 4 and will see subwave 5 target the $9550/$9600 area based on the size of the flagpole leading to the pennant which is subwave 4. This 3.618 extension of this movement from the June low is at $9612.90, and the 61.8 extension of the movement from the February high to the June low sits at $9483.40. If price remains within the ascending channel, then we should expect to hit that subwave 5 target around July 29th (potentially late in the night on July 28th). This will complete Wave 1 of the larger degree and take price above the daily cloud. This latter event will be the first time that price has moved above the daily cloud with the double Ichimoku settings since mid-January. While I don't expect a spring at the moment, there is always the possibility we could see one that drops price through the bottom of the pennant toward $8000 and then reverses in order to shakeout the remaining weak hands at this point and suck up that excess supply of the asset so that price can complete its trek upward. There are never any guarantees concerning price movement, however, so traders should never be lazy with their risk management. The ONLY thing you control in the market is how much you lose.
BITFINEX:BTCUSDEducation
by Chris_Inks
6
Bitcoin's Subwave 5 of Wave 3 in is motionGood morning, traders. It's Thursday and Bitcoin is moving as expected at this time. On last night's live stream I spoke about how we expected to see one more push upward toward $7700-$7800 to complete a possible subwave 5 of this Wave 3. Following through in such a way should give price the look of the previous pattern which occurred prior to the breach of the lower supply zone at $6900 and it would allow price enough room to print a shallow Wave 4 since we have a deep Wave 2. This would set up a Wave 5 push either into, or through, the upper supply zone (large green box). My thought is that if price manages to breach the top of that zone, then we should expect FOMO to kick in as shorts cover and/or are liquidated thereby causing price to breach the descending resistance line of the large descending wedge at that time as well. Failure to breach the top of the supply zone will likely see price dropping back for a correction before beginning Wave 1 of the new set and targeting that breach. The 1H chart shows us the two yellow boxes that I am comparing for further movement to complete the possible subwave 5 toward the 1.272 extension in the supply zone before dropping back to the $7250-$7350 area to complete Wave 4. RSI has made a move above its resistance at 58 which usually indicates a push into overbought territory, bringing price upward with it. MACD just printed a bullish crossover an hour ago, as well, and OBV is printing higher highs and lows in unison with price. The 1D chart shows price pushing against the bottom of the cloud. My primary expectation on this time frame is to see that push complete into the cloud and then see price ride along the bottom edge of the cloud as it completes Wave 4. Wave 5 should then, as mentioned above, breach the confluence of resistance and target the R2 pivot/2.618 extension. We will have to watch price action as Wave 4 completes and Wave 5 begins to know more, but this is the movement I am watching at this time. Also notice that we have had 5 days of green in a row, with today looking like it may be the 6th. The only time we've seen so much green without a daily pullback is during the bull runs prior to this corrective cycle.
BITFINEX:BTCUSDEducation
by Chris_Inks
7
I said I wouldn't want to be short after the shakeout Friday...Good Monday morning, traders. Last Friday I warned, after the shakeout, that I wouldn't want to be short as it appeared the larger interests were filling longs. Fast forward to today and here we stand this morning at about $300, on average, higher than that shakeout. So what does this mean for our current situation? Are we going up or down? After this morning's move, most RSIs below the 12H are topped out having either went well into oversold or at least hit it. It also appears we are transitioning from lower lows and highs to higher lows and highs which would insinuate a trend reversal. In terms of the IHS that everyone is watching, we do see expanding volume as the right shoulder is being completed. A close above $6900 would set retail FOMO into motion. This is what I am expecting to see happen. I do believe we are bullish at this time. That doesn't mean we will definitely set an ATH from this point, just that we should expect more upward momentum rather than downward for now. We can see that price hit resistance at the 78.6 retracement of the move up from $5780-$6839.40. As I mentioned last week during our live streams, a break to the upside of the DBW should find resistance at the top of the wedge, and if price pushed through that then we would see a push to the previous period's pivot. The waiting supply zone is noted between $6750 and $6900. It's been hit multiple times already which I stated would likely see it not withstand another attempt at it. At this time, OBV is also preparing for a push through its immediate resistance on the 1H. A push through would set up price's push through the aforementioned SZ. Although the chart does appear bullish at this time, a failure to continue this bullish momentum would likely result in a retest of the corrective cycle's low. Price needs to close above $6900 to fuel the movement with further momentum. The last time the 1H RSI was this high was during the April 12th short squeeze. Retracement is needed, but current bullishness could see price attempting to head higher before any meaningful retracement happens. If we do see retracement, then we want to make sure that $6400 holds. As long as it does, we should expect to see price ready itself for a push through the SZ. A close above this SZ should have price targeting $7800-$7900. Don't forget, you can always click on the "share" button at the lower right under the chart and then click on "Make it Mine" to bring up the live chart so that you can explore it as you would like to.
BITFINEX:BTCUSDEducation
by Chris_Inks
10
Bitcoin Analysis - Textbook Case of Wyckoff Downtrend to $4,800In my last chart, I had emphasized that the Wyckoff's Spring is likely at the $6,000 level (aka The Walls of Westeros) provided that price bounces from $6,000 and not any higher. Why is that? Well, it is important to remember that the Wyckoff's Spring needs to be a lower low. Of course, this is all based on the assumption that Bitcoin is really trending according to the Wyckoff Events. If that is truly the case, then the current downtrend should also follow other Wyckoff rules that govern a Wyckoff Bear Cycle like distribution, breakdown and markdown. Out of curiosity, I created the above chart with all those rules applied and it turned out exactly like what a textbook Wyckoff Downtrend chart would look like. Here is a link for you to compare it: d.stockcharts.com You can understand more about Wyckoff Market Analysis here: stockcharts.com Please LIKE and FOLLOW if you enjoy this.
BITFINEX:BTCUSDEducation
by cryptoezvip
41
Following The Composite Operator via Wyckoff EyesWYCKOFF ACCUMULATION Everything was going fine, but so much supply volume was too unexpected, and the absorption of supply by the Composite operators is yet to occur, I expect there will be a slow , low volume "Creek" which will be engineered to test the supply levels in the bottom of the trading range, it can be the immediate previous low test as i have marked, or low of the Secondary test or even the Selling Climax low... Will be interesting to note the supply volumes there on this expected dip... The lesser the better, and the faster will be the phase C and D transition from Current Phase B of Accumulation, to the Ultimate MArkup.. Disclaimer.. Not an investing/trading recommendation
BITFINEX:BTCUSDEducation
by capsule91
17