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Wyckoffmethod

XRP - Hidden Gem??Relatively speaking XRP has been shat on during this bull run with really no significant gains to get excited about. What I am seeing * XRP has been in a down sloping accumulation range since Oct 18 * Broken the down trend but had a capitulation event with very negative news a few weeks back * We have regained our position in a strong zone to the upside. * Note how we are sitting on top of a key supply zone which occurred on the 23rd Dec - nthe significant diff in volume between the two which means a lack of supply but demand also. * This lack of supply means we can have demand take over and push prices higher - this is becoming evident with the inability of price to move lower. * Watching for a break above 0.50 for a long. * Break below 0.40 will most likely see us to around 0.30 Wait and see.
by DecpBTC
3
No trades at the moment - WAIT AND SEEHi Team, We have entered a small trading zone at previous high which is expected as profit taking is occurring. Looking at the previous top will give us some clues. The FEB top was a quick distribution into a shakeout creating the liquidity for larger players to enter. Remember - distribution are generally quick and volatile whereas accumulation are slow with and time consuming with decreasing volatility. I have listed two scenarios here with neither more viable at this stage. I think overall we go higher after the prolonged re-accumulation we just had. Confirmations of bullish behaviour: *Supportive price at lower part of TR *Decreasing volatility *Relative long time in range *Testing event at support with strong recovery and subsequent support in the TR *Successful break of resistance with volume and support above resistance line Confirmations of bearish *Break down to 55K with no recovery in the TR *No support volume on the break to 55K *A break below support - retest to previous support and rejection *Quick time in range like in FEB Its wait and see at the moment. Remember you are looking to confirm bias which indicates who is winning; buyers or sellers. At the moment the short term bias is up; so we are looking to confirm each step. If we have a deviation from what we would see in a bullish bias it should alert us as a potential change in market conditions and we can begin to craft a trade in that direction.
by DecpBTC
2
BTC Long Continuation Hey Team, After a successful break, I am expecting a test to around 52000. Key things I am looking at *Lack of volume coming in from supply *Ability of price to hold in the 52000 range. *Small accumulation structure to be built in the 52000 in the backing up action Overall the structure looks great and very bullish Notice the following *When supply enters the market the pull bucks are very small and getting smaller - purple arrows. *Break volume of previous resistance with little to no reversals *The first directional bar with conviction comes at a resistance point. I think with the trillion dollar US stimulus we are heading to higher levels.
Long
by DecpBTC
LTC/USD ANALYSISON THE I5MINUTES TIME FRAME A SELLING CLIMAX WAS OBSERVED WHICH WAS FOLLOWED BY A BREIF PHASE A. PHASE B: DEMAND OVERCAME SUPPLY AS WAS REMAINED IN THE UPPER HALF OF THE TRADING RANGE PHASE C: THIS WAS OBSERVED AFTER PRICE FELL FROM AN OVERBOUGHT CONDITION BUT A CHANGE WAS SEEN AS SELLERS FAILED TO ESTABLISH THEMSLVES INDICATING THE LACK OF INTRREST FOR SELLERS TO PUSH PRICE LOWER ENTRY WAS MADE AT 171 WITH STOP LOSS PLACED AT 168 AND PARTIAL PROFITS WAS TAKEN AT 193 WHILE THE REST WAS TAKEN AT 197 JUST BEFORE A STRONG SELLING ZONE THIS GAVE A RISK REWARD RATIO OF 1:7.5
BITFINEX:LTCUSD
by Achieverswurld