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Wyckoffmethod

Is The Wyckoff Valid for Bitcoin?What is the Wyckoff Method? The Wyckoff accumulation is a century old form of technical analysis created by Richard D. Wyckoff. It is based on the principles of supply and demand. According to Wykoff there are two main phases in a market cycle: The accumulation phase and the distribution phase. f this was our Wyckoff spring moment then July could be very exciting! — Lark Davis (@TheCryptoLark) June 22, 2021 The accumulation phase usually follows a big price drop (Phase A) In the accumulation phase the price bottoms out as investors are starting to accumulate share or in this case Bitcoin. The demand and supply are close to even until slowly investors feel more comfortable to buy more and the price rises (Phase D and E in Graph). The distribution phase can be imagined as the mirrored version of this graph. After a heavy price increase, demand and supply are even and the price stops increasing, over time leading to a larger crash in price. Wyckoffs method states markets never repeat exact circumstances. So, instead of looking for the market to repeat itself, Wyckoff’s method requires analysts to look at broader sets of patterns. All price patterns vary slightly from previous incarnations either by size or volume to therefore making analysts adopt to different sets of outcomes instead of the same one. The second rule to the Wyckoff method tells investors and analysts to respect market relativity. Meaning, in order to understand today’s market trend, one must also evaluate the past. Finally, In the Wyckoff method, Wyckoff introduced three trends. These include up, down, and flat. He also introduced three time frames in his strategy: short term, intermediate, and long term. Is the Wyckoff Method valid? According to many experts in the industry, we could soon entering an uptrend in Bitcoin price. “In terms of the Wyckoff method, this $28.8K lower low is very similar to the $65K higher high. Both cause a maximum emotional effect on market participants.” Final thoughts Time will soon tell if the Bitcoin bounce off of 28k support this week is the spring to send Bitcoin back to reach it’s previous all time high. Many in crypto are hoping for a bullish reversal of the market come July.
COINBASE:BTCUSDLong
by sachi_diary
12
BTCUSDT 4h, Wyckoff accumulationm, bearish days may be ending?!?This is update of previous idea, so please take a look at related ideas for more information and follow us to be informed of idea updates. 🙋 Please let me know what you think. 🚀 If you would like to be kept updated, please follow us. 🚀 If you like the analysis then do drop a LIKE and a COMMENT. Also do SHARE it with your friends. 🚩 Note - These are my personal notes and in no way a financial advice. Do your own research and Trade wisely
Long
by golden_day
2
Bitcoin Shows Resilience Following Clamp Down on Binance Bitcoin is still recuperating after having temporarily sunken below the psychologically significant 30000.00 threshold last week. The price of Bitcoin continues to rise in an effort to break out above the major Distribution range. The current structure of the price action resembles a Wyckoff Cycle, given the recent consolidation within said Distribution. The latter spans between the minor resistance level at 35250.0 and the minor support at 34250.0. If the current attempt at a breakout above the upper boundary of the Distribution range fails, the price is likely to continue consolidating within it before it resumes diving. That is so because Distribution ranges typically entail mounting selling pressure. Even still, the price action remains concentrated above the 50-day MA (in green), which serves the role of a floating support. Meanwhile, the 100-day MA (in blue) is drawing nearer to the lower boundary of the Distribution. Both of these moving averages could resist the formation of a significant dropdown for the time being.
BITFINEX:BTCUSD
by Trendsharks
1
THE FRACTAL NATURE OF PRICE- GBPUSD IS IT TIME TO SELL?From the chart work you all will be able to see the fractal nature of price. What is seen on the 5MIN can also be seen on the 4hr or even the 2day. We've seen a very bullish GBPUSD since the beginning of COVID-19. Also according to structure a bullish market consists of HH and HL, which we can also see on the WEEKLY of GBPUSD. Price tapped into a supply zone which seems to be holding strong ; as there is a mini break of structure. Also we can notice the Distribution schematics forming on the 2day which might cause price to drop in other to mitigate untapped POI's. Following the Daily Distribution is a 4hr Distribution which further confirms our sell bias. As price dropped rapidly, took out liquidity and broke mini 4hr structures, imbalances and Institutional candles were left unmitigated ;which leaves us with the expectation of banks moving price higher so as to mitigate there orders and cause further drops.
Short
by FXBULLS101
USDCAD to Rebound and Continue Climbing The pair started developing a new Markup, as we forecasted last time (see link below). This happened after the price managed to break out above the Accumulation range, as postulated by the Wyckoff Method. Due to the strengthening of the dollar, the price is likely to continue appreciating in the near future, though the correction could fall as low as the 61.8 per cent Fibonacci retracement level beforehand. Several factors substantiate the expectations for future gains. The Bollinger Bands are tightening, which indicates diminished adverse volatility for the time being. Meanwhile, the underlying bearish momentum is waning, as indicated by the MACD indicator. Finally, all of this happens as the price action is consolidating above the 38.2 per cent Fibonacci retracement level.
Long
by Trendsharks
Wyckoff – Have the Spring been reached?An update to the Wyckoff Chart, adjusting the pattern for the past few days of price action that has seen Bitcoin break to new lows, recover and then fall to retest the low zone. This looks like a text book structure for Phase C of the Wyckoff Method, and if continuing to hold to this pattern, we should see Bitcoin begin its rally to new highs starting from here. However , I still feel there is a likelihood that the bottom of the spring might not have been reached. For instance, I have a very hard time confirming that there is a 5-wave count to the bottom of the Spring and there seems to be persistent weakness, with the MACD looking bearish and a firm rejection at the 20MA that delivered a bearish engulfing bar. On top of that, the recent low has fallen short of both the correction projected from the Head & Shoulders pattern and the Fibonacci retracement for wave C…while there are still signs of weakness. Perhaps the lack of a bullish reversal signal, or the prevalence of bearish indicators doesn’t matter in the world of Wyckoff price manipulation, but I am cautious here that the Spring has not yet been reached and we could still see a brief but sharp move to the downside. So I think I am bearish while price remains under $35k.
COINBASE:BTCUSDShort
by Crypto-Swing
45
Bitcoin - 2020 Correction as a Wyckoff AccumulationIn response to a query about past evidence of the Wyckoff Accumulation in Bitcoin, I publish this study of the price correction through the end of 2019 and early 2020. As can be seen, there is a strong case that this was also a Wyckoff Accumulation, with all the major features being represented. What do you think, is this evidence of manipulation of the Bitcoin price last year? Have the vampire squid banks of Goldman Sachs and JP Morgan been operating in a clandestine fashion to get control of the BTC and Crypto markets? ... and what ever happened to the Bart pattern? 😀
COINBASE:BTCUSD
by Crypto-Swing
9
BITCOIN - Wyckoff Redistribution UpdateHello everyone, rouzwelt here Well I have demonstrated Wyckoff Backup Action Events in my last idea as you can see in the screenshot below (full article link at botttom of page), and as of right now we have seen clear rejection from our resistant line at 32300 (PS) , and price action is showing that it's weak and can dump more. and the projection I have shown in the Screenshot is playing out somehow. I want to note something in the next Screenshot below, and that is as you can see, price action have clearly broke down local trend lines (yellow lines) it could have formed. that's not good but I just wanted to note this so that we can see btc couldn't form a local trend line to find support at. but let's see if the current one can hold or not. Anyway, Let me say something, whenever price is going up you want to see volume coming in and increase at rallies up and decrease at reactions and vice versa in the opposite direction. Now let's get back to the main chart. I believe that btc is weak right now, we don't see volume coming in at rallies high, actually its the opposite, we see volume at rallies down and decrease at reactions up. And that's what we are seeing right now at the btc 1H chart which I believe is pointing lower levels at this point. But let me say smoething, that can reverse for a short period of time and we can head high locally to the blue trend line drawn in the main chart, well if we see this happening then I'd like to see the price squeeze around the blue trend line and a break out after that, only in that case I would open a long position for a short-term uprise. But lower levels are the more probable scenario (the red arrow price projection), and if so, we will get the last LPSY in back up action phase of wyckoff method and then I would be opening my swing short position. Let's end by saying that the blue trend line in the main chart is the most important level for me to break if BTC wants to head high and test 36.5/38/40/42k resistants and potentially showing some strengths after almost 3-4 months.I don't want to sound bearish and actually I hate bear market as much as you do but we need to see some sign of strengths before saying we can see higher levels at least at this stage.
by rouzwelt
4
BITCOIN - Wyckoff Redistribution Backup ActionHello everyone, rouzwelt here As I demonstrated in my last idea which you can see its screenshot below (Full Article Link Bellow) that we need more info and more candles to get printed so we can begin to say wether BTC is in accumulation or redistribution phase. And right now after BTC failed to break Last Point Of Supply and rejected, we are seeing a lower low getting printed, although that's not the best news, but that shows us that we need to be prepared and position ourselves accordingly. And right now we can clearly see that BTC have entered its backup action phase, where a smaller version of wyckoff method is playing out. I have noted the events in wyckoff method in the chart and projected the price action which is probably going to play out going forward. Price now may rise to middle of the wyckoff channel then gets rejected that forms the LPSY in Backup Action before dumping again to print a local lower low (below SOW - bold red line) or a golbal lower low (below SC - dotted red line) and forming the last LPSY which is where I personally am going to position myself right there. Although I should note that there is still a chance for this idea to get invalidated if we start rally higher and print a higher high, break above the 35/36k resistant and head to our main resistant area of 42k, and when that happens I'm going to start thinking that this whole price action of last few weeks may have been an accumulation, but we sure need to see BTC break above 42k resistant and print a higher high, that's the key. But for now the chances are low as BTC is close to the bottom of the channel and we don't see buyers showing any sign of strengths. I should note that the higher the volatility at this stage the more chance BTC is in redistribution rather than accumulation. How much price can dump if this idea plays out? I don't know and I don't care at this moment, all care about is that I can open my position with minimum risk possible, and on that note I'm going to end here. Have fun and trade safe.
by rouzwelt
3
Bitcoin is In accumulation Zone ? Wyckoff model BtcusdtIt reflects the whole idea of a potential accumulation zone of 42-30k, which was put forward as the main one on June 4. Very often I consider different models, both analysis and trading charts. I can say that according to this model, the levels of $ 30,000 and $ 32,000 act as a large reference support zone Secondly, if you notice on the daily timeframe, the price almost immediately returned back above the 32000 range. Starting from the 4-6-12 hour timeframe, the closing of trading was above the specified zone. This model implies that a big player averages the price in this range, although what to write here, you can see everything for yourself. Because at this moment it has already become obvious to many of these zones, let me remind you that the key resistance is the same; 38930 - 42190, and the support is; 28805 - 32180$. Making an overview of this situation, I can say that all this is interpreted as a flat with a wide range of price movement, which partially confirms my hypothesis about lateral accumulation in the range of 30000-42000 and begins to take the form of a Wyckoff model... But this is not accurate, IT IS ONLY A HYPOTHESIS!!!!!!!! And if we take this model into account and apply it on this segment , we can see that accumulation always implies an upward exit, and full confirmation of this will be if the price is pushed beyond the 42000 levels and left there to continue the price movement into the seller's block, where the goals will be 45000-48000. But this is only a probability, because there are still many other models that tell me about a different outcome. I will leave this model here to hear your opinion on this issue.
by CryptoJaegerB
5