Ever heard the saying “buy the rumour, sell the fact”? Do you ever wonder why prices go down after a positive announcement? Do you think the Smart Money knew the facts or the good news beforehand and the reason why they’re already long? When the good news is announced to the market all the weaker hands jump in and start buying, and the Smart Money takes the...
Good morning, traders. It is Wednesday and CBOE Bitcoin futures expire today. Will this result in a jump of price? There is a strong narrative suggesting exactly that possibility as shorts continue to rise parabolically, quickly closing in their all time high and bringing with them a shorts-to-long ratio of 1.4251 currently. This ratio hasn't been seen since...
Well good morning, traders. I hope you've been keeping up with me via Tradingview and our twice daily live streams. I don't normally make a lot of noise when I'm right, but I am going to take a moment here and say a few things. Many traders laughed when I said last night was not only possible, but becoming quite likely. I did a live stream not too long ago...
Good Friday morning, traders. We made it through the week and now, with the weekend upon us, absolutely anything is possible in this market. At this point, we still have the $7900 target from the IHS and price continues to hover around $7400/$7500. The TFs don't get overbought until the 4H, which means that there's room for price to break and run a bit. Speaking...
This is just an update to the original in which I adjusted the path at the end to compensate for the time that has passed since initially publishing the chart. The path remains just that -- a path, not a timeline.
Good morning, traders. Yesterday proved to be very profitable for Bitcoin bulls, but what should we expect now? It seems that we still have some energy left in the bullish momentum as price hovers around $7400-$7500. Ultimately, we expect to see a retracement after that big move yesterday. The previous supply zone between $6750 and $6900 should contain extensive...
Good Monday morning, traders. Last Friday I warned, after the shakeout, that I wouldn't want to be short as it appeared the larger interests were filling longs. Fast forward to today and here we stand this morning at about $300, on average, higher than that shakeout. So what does this mean for our current situation? Are we going up or down? After this morning's...
In my last chart, I had emphasized that the Wyckoff's Spring is likely at the $6,000 level (aka The Walls of Westeros) provided that price bounces from $6,000 and not any higher. Why is that? Well, it is important to remember that the Wyckoff's Spring needs to be a lower low. Of course, this is all based on the assumption that Bitcoin is really trending according...
Using Wyckoff's schematic 1 Accumulation,we can analyse the volume to the price action and structure. The description worth mentioning is written on the chart :P.
ICX/BTC showing a Wyckoff Distribution on the 4h chart. To learn more about this method, go to this link from Stock Charts.
In Wyckoff Analysis, four main phases occur during the trading cycle: accumulation, markup, distribution and markdown. Accumulation phase is when smart money enters on a long position, when general public is not interested. Markup phase is when parabolic movements start, driving media and public attentions, when entusiasm and FOMO make their victims. Distribution...
Crypto is still the wild west, even with the adoption that has happened so far; here we can see a huge wash trade unfolding in Ripple. To copy from stockcharts, here are Richard D. Wyckoff's remarks on market operators (the composite man) and wash trading: -The Composite Man carefully plans, executes, and concludes his campaigns. -The Composite Man attracts the...
Richard Wyckoff implemented his methods in the financial markets, and grew his account such that he eventually owned nine and a half acres and a mansion next door to the General Motors' Industrialist, Alfred Sloan Estate, in Great Neck, New York (Hamptons). As Wyckoff became wealthier, he also became altruistic about the public's Wall Street experience. He turned...