Introduction:
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In the time period of April in 2021 Bitcoin reached its local high of roughly US $65,000 per coin, shortly after when May came along many social channels quickly lit up with the now infamous “Wyckoff Distribution Schematic” (This was one popular video that described it here:...
Introduction:
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Richard Demille Wyckoff (November 2, 1873 – March 7, 1934) was considered one of the five “titans” of technical analysis , along with Dow, Gann , Elliott and Merrill.
Wyckoff was an avid student of the markets, as well as an active tape reader and trader. He observed the market activities and campaigns of the...
In this video I'd like to highlight a very important, yet most basic and fundamental technique that all forex, stock or crypto traders MUST learn.
If you don't learn this, if you don't do this, YOU WILL FAIL. I promise you that you will not find anyone who disagrees with this.
The reason I'm sharing this is because I have found that very often, beginner...
As of Friday (Jan 21) IWM has fallen out of a long range of distribution, produced both daily and weekly closes outside the trading range, and importantly has the potential to produce a large move. In this piece we discuss the trading range, mostly from a Wyckoff perspective, show multiple ways to start thinking about how far the move might progress, and finally...
Hi traders,
I didn´t open a trade yesterday, so I decided to record an educational video for you.
My favorite topic (and very hard to implant for many traders) is TRADING RANGE.
The most most most crucial ability is to recognize if you are in a Trading Range or in a Trend. Every stage of the Market requires a different approach!
You can find a lot of...
Good morning, traders. It looks like we had just a tad bit of a drop overnight which price has been rectifying this morning after having dipped below the H4 pivot. Price is now above the 21 EMA on that TF and RSI has continued to print a descending channel. H$ MACD is curled up and looking for a bullish cross. The small descending wedge that printed gives price a...
Good morning, traders. Bitcoin attempted to push above $3950 this weekend but could not make it happen. As I have been mentioning, there is strong resistance up toward $4000 and overcoming it won't be a walk in the park. Last night's downward move bounced off the daily 21 EMA, finding support on the HVN. An H1 gap was created around $3888 and RSI just bounced off...
Good morning, traders. Price continues to press upward in spite of the overhead supply. Because this is happening within sideways movement there isn't much to say today other than the weekend is upon us and we usually see a strong move during that time, so traders should be keeping that in mind regardless of the direction of their trade.
The H1 chart shows an...
Good morning, traders. Not a lot has happened over the past couple of days. We appear to be watching price move sideways. However, if we take a closer look, we can see price making higher lows toward resistance at $3900. This is creating a possible ascending triangle which should have price targeting $3988-$4005 upon a successful breach and follow-through.
I had...
Good morning, traders. I have been looking for something new to point out since yesterday but haven't really found much. Price has been consolidating at the upper end of the move up from yesterday. The dark black horizontal channel gives you the local TR. A close above the top of that TR should provide the target shown which is the EQ of the upper supply zone at...
Good morning, traders. I'm finally back, after having moved last week, and Bitcoin has basically done nothing other than initially hitting my first upper target, followed by my lower target, that was published last Monday. Since then, it has moved sideways. Last night saw a bit of a move down, but price has remained within the local TR and now the H1 and H4 TFs...
Good morning, traders. Price is attempting to push its way through the descending wedge's resistance as H4 RSI is pushing through its own resistance. H4 MACD is curled up and nearing a bullish cross above centerline. As we can see, the green target, which is based on the height of the wedge, is near the previous swing high. Traders need to be cautious as price...
Good morning, traders. Price has continued within the flag and bounced off the 38.2% retracement on the D1 chart as I mentioned I was watching for yesterday. H1 is printing a short-term double bottom with a target of $3620, once price closes above the swing high of $3586 which would confirm it. H1 RSI is just under neutral at 47.3 and butting up against...
Good morning, traders. Demand continued to flow into the pair over the weekend with supply attempting to assert itself yesterday. Up looks much more likely than down, in the near term at least. The D1 chart shows price sitting on the daily pivot after being rejected around the 50% retracement of the December 15th low to the December 24th high, but we could see it...
Good morning, traders. Price action just got interesting this morning. H4 and D1 RSI are breaking bullishly through their resistance and volume has picked up noticeably. As a matter of fact, H4 RSI is now bullish at 56. Obviously we need to see follow through, and there is still another 2 hours left in this current candle, but volume is already nearing the same...
Good morning, traders. After the recent drop and immediate reversal price has continued to move sideways adding to traders' already pessimistic attitudes and boredom. But don't let the market lull you to sleep. These are precisely the times traders need to be extremely aware of what's going on as sudden moves often do happen and catch sleeping traders off guard....
Good morning, traders. Overnight saw Bitcoin finally falling through the bottom of the ascending channel. As I have been warning, failure of follow through on a break through resistance will likely result in price continuing to head lower. That strength into the end of the daily candle yesterday printed a bullish cross on the MACD which has since turned into a...
