I have tried to identify Wyckoff's accumulations phases and a reversal is near. Please bear in mind that this is my first attempt to identify Wyckoff's phases, comments are welcome.
The high volume supports the selling climax SC in phase A, where all the supply gets absorbed. SC is also supported by an Elliot wave 3(extended). The AR automatic reversal-, which gives us the upper trading range. In phase, B all the testing for supply/demands and the best prices begins. The first ST- supply test, shows there are still supply left, (high vol) -also ending the Elliot wave 5. The spring in phase B is still a test, but the low volume shows that there is no supply left at low prices. Marked is slowly driven up and tested again for more supply, and again the low volume shows there are none- we are ready for a rally, the price gets pushed higher and now the high volumes shows the bulls are back, showing strength towards the Creek. Jumping over the creek and creating a bull trap. Here the Cryptosite man (composite man) turn everything around and drops the price so quick that it shakes off the weak handed and takes out all supply- he is now finished with his accumulation of BTC, and his warehouse is filled(sneaky bastard). More or less, I can read all over that everybody myself included, was taken by surprise. It was not only due to SEC decline of BTC ETF, because it was an inside job. The first dump actually took place on bitfinex, and was identified by the 51% crew as being placed 15 min before the SEC announcement. How about that- it was all prearranged, FUD, and orchestrated to wipe out everybody. This is actually, why I decided to figure out what happened, and I came up with Wyckoff’s, and identified it as TSO- Terminal shake off. I strongly believe that we are now ready for the markup phase. We might see another ST at spring level, only time will tell, but anyway now is a good time to get in and ride the new Elliot waves. The big H&S formation also suggest we would end up in the 10k area before something new significant happens. However, nothing is certain- this is crypto- expect the unexpected.
The high volume supports the selling climax SC in phase A, where all the supply gets absorbed. SC is also supported by an Elliot wave 3(extended). The AR automatic reversal-, which gives us the upper trading range. In phase, B all the testing for supply/demands and the best prices begins. The first ST- supply test, shows there are still supply left, (high vol) -also ending the Elliot wave 5. The spring in phase B is still a test, but the low volume shows that there is no supply left at low prices. Marked is slowly driven up and tested again for more supply, and again the low volume shows there are none- we are ready for a rally, the price gets pushed higher and now the high volumes shows the bulls are back, showing strength towards the Creek. Jumping over the creek and creating a bull trap. Here the Cryptosite man (composite man) turn everything around and drops the price so quick that it shakes off the weak handed and takes out all supply- he is now finished with his accumulation of BTC, and his warehouse is filled(sneaky bastard). More or less, I can read all over that everybody myself included, was taken by surprise. It was not only due to SEC decline of BTC ETF, because it was an inside job. The first dump actually took place on bitfinex, and was identified by the 51% crew as being placed 15 min before the SEC announcement. How about that- it was all prearranged, FUD, and orchestrated to wipe out everybody. This is actually, why I decided to figure out what happened, and I came up with Wyckoff’s, and identified it as TSO- Terminal shake off. I strongly believe that we are now ready for the markup phase. We might see another ST at spring level, only time will tell, but anyway now is a good time to get in and ride the new Elliot waves. The big H&S formation also suggest we would end up in the 10k area before something new significant happens. However, nothing is certain- this is crypto- expect the unexpected.