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Wyckoff

#SPX500 BounceWith all the doom and gloom recently haven't noticed many paying attention to the bigger picture. FOMC decision to bring 75bps rate hike was fully priced in, in fact the market had partially priced in full point hike. Despite that bear arrogance remained peak levels and have continued shorting the markets (crypto, stocks) on mega volume. Going back to Wyckoff, one of the 3 golden rules he considers is EFFORT and RESULT. While market has been short on super volume, the price did't quite reacted same. When EFFORT != RESULT we look for pause and reversal. Sell volume has been slowly being absorbed and we have, for a very first time seen a 50/99 DMA Golden Cross While this is early indication and needs to be confirmed with 50/200 Golden Cross, short side is extremely heavy and vulnerable. Remember, liquidity is magnet, and free money in form of stop-loss are up north. Furthermore, we almost fully retraced the COVID pump and we are at a levels from where market lost its organic trajectory due to the aforementioned natural disaster.
PEPPERSTONE:US500Long
by MarianusInconnuX
ALGO completing Wyckoff accumulation phaseAfter a multi-month period of mark-down ALGO is exhibiting the final stages of Wyckoff's accumulation model: 1. Preliminary Support (PS) established 2. Selling Climax (SC) achieved 3. Automatic Rally (AR) occurred 4. Secondary Tests (ST) occurred 5. Price broke key resistance level (Sign Of Strength / "crossed the creek" 6. Price Backed Up ("walk back to creek") The next phase is the mark-up phase. This could correspond well with a mid-term rally off SPY support level.
FTX:ALGOPERPLong
by cryptomius
BTC/USDT 4hBTC/USDT 4h ▪️Judging by the situation, bitcoin decided to go up anyway, take liquidity from above, and also test the zone 22054.07-22713.92. If it doesn’t go so high, then at least you need to show the overlap of the imbalance by half, it will just be a premium zone of about $21415 +- and after that, I think we should again expect a downward movement, the formation of accumulation and an exit up after removing liquidity at 17600. I don’t think that let's go up a lot, there are unfinished business downstairs, and there are also a lot of people waiting for him downstairs now, so it would be logical to go upstairs.
Long
by smart_money_crypto
2
BTC still in accumulation phase?BTC has been showing some signs of a potential reversal. Once again by using Wyckoff guidelines, I think that an accumulation phase is on going. A reversal will be confirmed when the "upward sloping accumulation structure" (in 2D TF) will have been completed. It means that the $30000 is a key level. Before approaching this level, BTC may be still fluctuating, in accordance with the macro factors' uncertainties (stock markets, FED decisions, war...). In my opinion, BTC would revisit the $20000 level. This would be a good opportunity to accumulate BTCs (with precaution of real breakdown that "Accumulation" is invalidated and becomes "Redisctribution") PS: Even if the prices don't follow exactly the theoretical Wyckoff structure, the resistances/supports and events would still be useful for trades.
BITSTAMP:BTCUSD
by evasivesteering
6
BTC - potential double bottomHello, It's been a while since the last crypto pair update I made, but since we are more or less in a full blown bear market I decided it is worth the time to start sharing ideas again without the need to include moon targets in every post to gain viewers etc. The gameplan here is simple. On the main chart - BTC/USDT on 1W we see a clear Double bottom pattern in the making. If we manage to get a proper upside and break the neckline then we get our reversal with main target right above the long-term diagonal resistance line around $32,000. We lose $19,000 and the doors to the $10,000-$12,000 OB will be wide opened. Now, switching to the 1D chart, I cannot pretend I cannot see the similarities between the price action in the last few months and the Wyckoff Distribution Schematic #2. So we might have entered Phase E which is the final act and we are about to see the final capitulation before starting the cycle again. There is a big chance we are in Phase A of the ACCUMULATION already which suggests a re-test of the support will be next. Then we can see something like this: As always, we need to adapt to what is going on on the charts as they evolve and are impacted by both TA and fundamentals. Cheers,
by FutureBlockchain
7
ETH - diamond top or the beginning of accumulation phase ?Hello, Looking at the ETH post merge can note few observations: 1. We are most probably in a Diamond Top reversal pattern on the 1D chart which is already in play ---> Target: The previous range high right below $1,300. 2. The current price action on the 1D chart looks A LOT similar to the one we had back in the period February-May, 2022. 3. The ETH/USD 1W chart suggest a Wyckoff Distribution #2 is still in play with the price being in Phase D currently. So, we are looking at the following grim scenario 4. But what if we are already in the Accumulation phase ? (bullish case) Well then we are to see something like this Cheers,
by FutureBlockchain
3