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Wyckofftrading

BITCOIN BATTLE CONTINUES - KEY LEVELS APPROACHING!Since the climactic action in Bitcoin in late June, price has entered a trading range and we have had the signs of Wyckoff distribution. We will need to see the confirmation of the weakness on the right hand side of the trading range. The characteristics of distribution and re-accumulation can be very similar. A buying climax followed by an automatic reaction and the secondary test. The secondary test was on lighter volume indicating demand may have eased. We also couldn't reach the top of the trading range. Price failed at $13,200 with supply entering the market. This level may be tested in the future if we do see a rally higher. Although we are making lower highs, an indication of the downtrend establishing. Mid July we saw the bottom of the trading range tested and a minor sign of weakness. The price sliced through $10,000 on large volume and spread indicating large supply levels entering the market. We didn't see any follow through lower and this was the first sign that bitcoin may need to go sideways longer to build that cause for the next trend move. The first key level to watch is $10,520.30 - the top of the supply bar. This is the highest volume on the chart since the buying climax. Price has just moved through this area in the last 4 hours. The next few bars will be interesting. 18th July was the first sign of any demand entering the market and price rallied higher on nice volume and spread. We have seen this level defended on four occasions now. There are two ways to interpret this - the smart money is not allowing price to fall lower or they have not distributed fully yet and are doing this on the rallies higher. By 21st July the demand had eased and price had to fall to find further demand. We did see a spring of this area on July 29 and rallied strongly thereafter. Price rallied to $12,325 before stalling. The second key level I want to talk about is $10,974.63 - this has been a flip area for support and resistance since the supply came in at this level back in early July and may be a crucial level moving forward. Look at how many times on the chart price has bounced higher or lower off it. Look at 5th August, it was the first time in a while that price could break through this level. It was no coincidence that there is a large range demand bar starting at that level. It is the area where demand overcame supply. Unfortunately there wasn't much follow through higher after this and price trending sideways before failing again. In mid august the bottom of the trading range was tested and defended again. We have certainly now built enough cause for a move. We need to see the confirmation on the right hand side of the chart. A large demand bar that takes out these levels and rallies higher or a large collapse and supply bar taking out the bottom of the trading range. Either way there is a nice moving coming and patience is the key. So keep your eye on $10,974.63 in the near future!
BITSTAMP:BTCUSD
by AussieWyckoff
3
$FUEL, A POTENTIAL WYCKOFF DOUBLE BOTTOMHi friends! Welcome to Poop's Wyckoff Analysis on Etherparty/$FUEL. We have seen a lot of whining about the market being manipulated when bitcoin printed a huge red candle recently which probably liquidated tones of longs. To be honest markets are indeed subjected to manipulation by huge players and crypto market is not an exemption to this. While big players do this to your disadvantage if you dont understand what they do, They work to your great profits if you learn to understand their schemes and manuever. This analysis attempts to show a Wyckoff scheme of accumulation we are seeing on $FUEL. $FUEL is on a Potential Wychoff Double Bottom Schematic specifically towards the end of its Phase C on Wyckoff Events and Phases. The price history does look like its about to form a long term double bottom but does it qualify as a double bottom per Wyckoff principles? Here are some observations we saw in the 3 Day Candle Chart which suggest that indeed Fuel is on a double bottom. 1) The volume and price spread has been significantly reduced as the market approched the support in the area of the Selling Climax during the secondary test which occured at Phase B specifically on December 9, 2018. This suggests that there is a scarcity of supply at that level and implies a bottom is confirmed. Many are suggesting that $BTC is in a similar Wyckoff Scheme, but unlike $FUEL, the volume was increasing on bitcoin as the market approached the support in the area of selling climax during its first secondary test which suggest that Bitcoin supply overpowers the demand. 2) There was an Ultra High Volume Absorption of Supply which occured at a trading range higher than support lines of the the Accumulation Range from December 18, 2018 to February 24, 2019 (see elongated circle). This is an indication that big interests are accumulating high volume of shares from the retail. 3) During this same span of time, we have witnessed a divergence between the volume and the price which signal a probable change in the direction of a price trend. You can easily observe in the same spot (see elongated circle) that there are several high-volume (large effort) but narrow-range price bars after a substantial long term decline(downtrend), with the price failing to make a new low. This suggests that big interests are accumulating huge chunk of shares and provides us an early warning of a possible change in trend. In conclusion, we are likely to retest the accumulation range resistance which is about 100% target from our current level. A convincing break from this resistanceis a sign of strength and will confirm our interpretation of the prior price action. This will likely send $Fuel to a much higher price level. That's it friends, I looking forward for your comments on this analysis. A definition of terms on the labels included in the chart is at the bottom, for your appreciation. This is just a guide, not a trading advise. Hit like and follow for more chart updates! Thanks -Your Wyckoff Poop Trader
FLong
by PoopTrader
1
BCHSV UptrendHi friends! Welcome to Poop's Wyckoff Analysis on $BCHSV. BCHSV is showing signs of a textbook Wyckoff Reaccumulation. What we have seen so far? -There was a pause on a prior uptrend. The prior uptrend was backed by strong volume. -There was a case build for a new uptrend, a 6 weeks of consolidation within the re-accumulation trading range. -RSI divergence supports this observation. The bullish trend is about to resume. The projected move is around 90% from its current price level. That's it friends, I looking forward for your comments on this . This is just a guide, not a trading advise. Hit like and follow for more chart updates! Thanks -Your Wychoff Poop Trader
Long
by PoopTrader
9
Future of Cryptocurrency market: Traces of Cooperative OperatorWhile almost every trader is focused on derivative indicators, subjective chart patterns, Elliot Waves and other abstract objects or collective illusions (which rarely come true through self-fullfilling prophecies), the only way to be closer to the right outcome in your predicitions is to see the market how it really is. Price can change only when limit orders in one side of the orderbook are filled or canceled, not when it approach some trend line. Markets are driven by retail trader's emotions, but there are also more powerful participants, who decide in which direction it will go. Market makers are able to move the market, but they have problems with executing large orders because of insufficient liquidity. Therefore they need to organize the market's moves in patterns of accumulation and distribution phases. In other words they probably know in which direction the market will move, but they cannot just buy or sell in one particular point. On the other hand we don't know what the future holds, but with right money managment techniques we can be much more flexible. And we know who holds the future. Today BTC's yearly low from late June (5880 $, Bitstamp) was deepen. It looks like potential ST or Spring. It shouldn't go further than about 4,5 - 5k. We have clear distribution (distribution #2) pattern from November 2017 (note that in these days marketcap of USDT just exploded) to early February 2018. And almost immediately the market moved on to the next stage, which was accumulation (accumulation #2). It's interesting that there was extraordinary dynamic move in USDT marketcap in the end of January 2018. But why accumulation #2 is executed so high? I have a feeling and it's very experimental idea, that these two are parts of bigger one, which will end up as distribution (distribution #1). As Wyckoff said: "That's how it's done - played in both directions". What I expect in the next few months is markup in accumulation #2, which will be in fact UT or UTAD in distribution #1. It should go slightly higher than our present ATH (maybe 25 - 30k). And after that we can expect hughe and long bearmarket with bottom at about 1-3k.
BITFINEX:BTCUSDLong
by K_U_R_T_Z
4
$USDCAD for long term bearish potential OANDA:WTICOUSD is in up move agresively. OANDA:USDCAD is building beairsh Wolfwave formation. In 4hrs chart it shows a Sign of Weakness. So here is my trading plan, I will be looking for bearish pattern on 4hrs chart or lowers, but will also try to hedge with scalp long positions, until bearish formation being built on Daily chart. Any bearish trend on US dollar index will help the pair to run very fast on south direction. I may look on AUDCAD for either counter my position on USDCAD or taking more position on CAD.
Short
by kinetix360
BCH Distribution Phase EI've been trading off this 4hr BCH chart for a while now with great success. Key distribution touch points are in place with a weak bounce confirmation of the SOW break being where I added to my short significantly. I took a measured risk with a small entry through the opening LPSY level, added at first test and again on the clear break of SOW. Pros: Distribution touch points present SOW break is clean with a failed second test Guppy support through colour change on key areas Cons: Sell volume not as strong as expected through the channels Strong bounce at first test breaking higher than I would like from the SOW range Bounce potentially incoming that will need to be monitored I'm looking for more downside but the indicators show it may be due another bounce here. A break of the previous high would be a concern for me. It looks likely to fail based on previous weakness of Stoch RSI wedge breaks in the downtrend. My short trailing stops have been established as we continue. I'd be looking for a 0.12 target which has seen signification S/R before.
Short
by YeOldeMiner
SNAP Long - Wyckoff Accumulation with Target around $32After a precipitous drop from the IPO highs set in March 2017, SNAP shows signs of intelligent accumulation between $12 and $17, starting in July/August 2017. A selling climax, automatic rally, and secondary test completed Phase A. The secondary test was successful, as it made a higher low relative to the selling climax on lower volume . The following rally was not met with supply until after price created an upthrust above the automatic rally high around $17. Price revisited the bottom of the accumulation range relatively quickly, with a large volume spike on November 8, 2017. Despite the extra effort, it was unable to make a new low. A dynamic rally ensued, showing expanding volume and widening spreads, bring the price above the automatic rally high and into the area of the previous upthrust in Phase B. The next and final decline had relatively smaller spreads and low volume , indicating a controlled reaction into the final testing area. Phase C ended after a low-volume higher low was established, followed by a dynamic gap-n-go Sign of Strength Rally on big volume . The last two weeks began the Backing Up Action to test for more supply, prior to a significant mark up. Expect a smaller range between $16/17 and $21 as Phase D plays out. Unless significant supply emerges and manages to push the price deeply into the trading range, this smaller range should resolve into a strong Phase E mark up. Horizontal Point & Figure analysis from Phase C to Phase A hints at a target around $32. The target can be extended following the completion of the backing up action, once the mark up commences.
NYSE:SNAPLong
by tsellers33