BTC maybe going through a Wyckoff accumulation. Most of the market is currently following the overall trend of BTC so this distribution may be in play across the entire crypto market.
The yellow path is my predicted path of the market in the near future.
Please leave your thoughts below.
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Here we come across Accumulation phase as specified in Wyckoff Model. As per the model one can take a long position in Take Solutions. The details of the model is described below.
The four stages of Wyckoff model (Accumulation Scheme) are: -
1. Phase A
The selling force decreases, and the downtrend starts to slow down. This phase is usually marked by an...
Distribution: Wyckoff Phases - without UTAD.
Phase A to D completed perfectly. We now have Phase E. After the significant down-move, climactic action may signal the beginning of a re-distribution TR or of accumulation. (Which is basically the completion of the Wyckoff Phase)
Now we have the break of the structure. We are likely to see a re-test between 0.236 -...
JAC after spring formed at 2.7$, TP was $4 for a lot of people. $3 act as recent support, LPS at $2.5, expect lower low will be formed at $2.6-2.8. $2.8 would be good price for entry. Look for confirmation and momentum shift in 15mins - if still bearish price can go as low as $2.3 to fill imbalance
Price has been moving in a channel, it has broken out of it and made its lower lows, retested the channel and dropped to make another low.
I see it coming to premium price of demand zone/resistance. Strategy is based on smart money with wyckoff, however other methods are also used for confluence.
Fibs are drawn with RR instead of levels. May hold if price...
Trade Ideas - 💡
In the 30min time frame I have identified some a couple of opportunities that follow the bias highlighted on the daily, I have not set limit orders for but will wait until price action enters these areas. There is liquidity around 1860.50 which seems ideal for the market to sweep before heading higher on the weakness of the...
Trade Idea 💡
Highlighted two selling opportunities, the POI is the UTAD within a distribution schematic that has been forming which can be seen on the daily timeframe on this chart
Depending on the outcome of the Senate appeal on results the dollar could weaken and give impetus for EURUSD to reach these...