BITCOIN ๐ฒ Wyckoff Accumulation ๐ Short term reversal...
Now that US Markets have opened up... I'm starting to see clues of a bottom reversal.
Bearish volume has been declining... ๐ while the price has been dropping. ๐คท
Effort < Result.
At this stage with low volume and prices appearing to be creeping up (on the lower timeframe)... this could be a sign that sell pressure is exhausted and whales are accumulating quietly... ๐ณ
๐จ Still a work in progress! No guarantees this will play out.
Bearish volume has been declining... ๐ while the price has been dropping. ๐คท
Effort < Result.
At this stage with low volume and prices appearing to be creeping up (on the lower timeframe)... this could be a sign that sell pressure is exhausted and whales are accumulating quietly... ๐ณ
๐จ Still a work in progress! No guarantees this will play out.
ืืขืจื:
๐จ BItcoin volume really needs to start picking up in the next 24-48 hours and price needs to get to SOS resistance at $43K or this could be a bull trap and failed Wyckoff Pattern (at least on the 1H timeframe) and more like a Bear Flag on 4H timeframe โ ๏ธ
ืืขืจื:
๐จ Bitcoin really needs to have bullish volume enter now... a drop below the Selling Climax at $34,000 would be painful. So, please be MENTALLY PREPARED for that scenario. ๐ง
I have updated this Wyckoff Accumulation schematic to reflect this extended sideways consolidation, which is taking longer than I feel comfortable with. ๐ฉ
Personally, I'm not selling anything... just staying the course until Q4 before taking profits! ๐
I have updated this Wyckoff Accumulation schematic to reflect this extended sideways consolidation, which is taking longer than I feel comfortable with. ๐ฉ
Personally, I'm not selling anything... just staying the course until Q4 before taking profits! ๐
ืืขืจื:
Finally, Bitcoin flips the 1H 200 EMA to support. A few bullish volume spikes show clues that retail traders may be flipping bullish. Just need more volume now.
ืืขืจื:
Just updated Wyckoff Schematic to be more detailed and precise.
โ 1) Need to flip that 1H - 200 EMA to Support
๐ก2) Volume should start increasing as retail traders take positions.
๐ฅ3) Price needs to get to the $43,000 Resistance Line
๐ฅ4) Reversal is only confirmed with a huge Volume Spike... ๐ฅ๐
โ 1) Need to flip that 1H - 200 EMA to Support
๐ก2) Volume should start increasing as retail traders take positions.
๐ฅ3) Price needs to get to the $43,000 Resistance Line
๐ฅ4) Reversal is only confirmed with a huge Volume Spike... ๐ฅ๐
ืืขืจื:
As bullish volume expands, this is the phase of the Wyckoff schematic where traders will look to go Long.
โ 1) Need to flip that 1H - 200 EMA to Support
โ 2) Volume should start increasing as retail traders take positions.
๐ฅ3) Price needs to get to the $42,000 Resistance Line
๐ฅ4) Reversal is only confirmed with a huge Volume Spike at Sign of Strength... ๐ฅ๐
โ 1) Need to flip that 1H - 200 EMA to Support
โ 2) Volume should start increasing as retail traders take positions.
๐ฅ3) Price needs to get to the $42,000 Resistance Line
๐ฅ4) Reversal is only confirmed with a huge Volume Spike at Sign of Strength... ๐ฅ๐
ืืขืจื:
BITCOIN x Wyckoff Accumulation appears to have failed... ๐ญ
Only sign of hope is the lack of increasing Bear Volume in relation to price dropping. (Effort < Result)
Without Bullish Demand... the only chance of a reversal is a Short Squeeze by whales at $30,000...
Only sign of hope is the lack of increasing Bear Volume in relation to price dropping. (Effort < Result)
Without Bullish Demand... the only chance of a reversal is a Short Squeeze by whales at $30,000...
ืืขืจื:
BITCOIN -- Supply and Demand โ Battle Is Coming to a Close! (after 25 days of agony ๐) Volume in relation to Price (Effort and Result)... have shown that Bears ๐ป had no follow-thru and the Bulls ๐ gave clues of accumulation with increasing volume spikes. ๐
โ 1) Above 1H - 200 EMA to Support
โ 2) Bullish volume increasing as retail traders take long positions.
๐ฅ3) Price needs to get to the $42,000 Resistance Line
๐ฅ4) Reversal is only confirmed with a huge Volume Spike at Sign of Strength... ๐๐ฅ๐
๐คชI can't believe it's been ranging sideways for nearly a month! (25 days to be precise.) I believe Bitcoin may take the lead, while the Altcoins may lag behind and range sideways for an extended time.
โ 1) Above 1H - 200 EMA to Support
โ 2) Bullish volume increasing as retail traders take long positions.
๐ฅ3) Price needs to get to the $42,000 Resistance Line
๐ฅ4) Reversal is only confirmed with a huge Volume Spike at Sign of Strength... ๐๐ฅ๐
๐คชI can't believe it's been ranging sideways for nearly a month! (25 days to be precise.) I believe Bitcoin may take the lead, while the Altcoins may lag behind and range sideways for an extended time.
alternative.me/crypt...ear-and-greed-index/
Whales may be quietly accumulating on low volume.
1) Need to flip that 1H - 200 EMA to Support
2) Volume should start increasing as retail traders get interested again.
3) Price needs to get to the $43,000 Resistance Line
4) Reversal is only confirmed with a huge Volume Spike...