GreyPool

GreyPool

Looking at the BTC weekly chart it is clear that for the last year BTC has been in an accumulation zone and the recent markup in March represents a breakout to the upside of this channel/zone. November's markdown, mostly fueled by negative crypto news in the wake of FTX's collapse, resulted in a failed breakout to the downside. Note the bar range differences in...

GreyPool Updated 

This is very good place to go short. The stark language from Powell today signals the Fed is dedicated to raising rates which immediately makes diversifying in Crypto untenably risky for institutional investors. The recent correlation between BTC and the traditional markets is clear - BTC will drop from here.

GreyPool Updated 

Using historical volatility and the Wyckoff method, we've determined that the current range which began with a selling climax on Dec 3rd will produce a prolonged uptrend in the near future. Look for a shakeout and subsequent breakout to the upside. The current range is almost identical to the May 2021 range and in a miniature form the Sept 2021 range where the...

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What looks like distribution in the last two weeks is actually re-accumulation and the spike down in volatility is another clue. Historically, in real distribution ranges/phases a spike down in volatility occurs on the up swings, in this case the drop in volatility is happening in the down swing of the range, a big clue this is not distribution. And not just...

GreyPool

What we're seeing in the current ranging market of the past two months looks at first glance like price is gathering/accumulating at a potential bottom for an eventual move up. However, the behavior of price during this range confirms the background weakness in the market. The shakeout/Trap-Down move on 6/22 appears to be a Spring but the resulting market sell...

GreyPool Updated 

The Wyckoff distribution setup has been in the making for over a week since March 31st and the breakout to the downside appears to be in progress A drop to 54K is likely and a further move to 51K is possible

GreyPool

The re-accumulation that has occurred in the past 4 days in BTC appears to be fully developed and an upward breakout is in progress If upward momentum continues the next major resistance area is approx. 37k; there appears to be a clear path from the current price to that level

GreyPool

Another Re-Accumulation Between 37k and 40k pretty much guarantees a move above 40k and re-establishes the strength within this market At these previously unexplored heights we cannot rely on old price performance to determine where the next potential resistance area is - this is why psychological levels are more important than ever. If 40k is bypassed the next...

GreyPool

With significant strength in the immediate and medium-term background and an overall upward trend BTC is re-accumulating in the 30k to 35k range There is no strong sign of distribution yet in this rally and a break of 35k seems imminent

GreyPool

There is still a strong uptrend and strength in the immediate background, however it seems the composite operators (smart money) intend to push prices lower to get a cheaper re-accumulation zone

GreyPool

The Last Point of Support seems to have occurred on the 1hr chart of BTC above the most recent accumulation channel Next major resistance is at 19500

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The re-accumulation is a sign the recent retrace in BTC is short-lived Wait for LPS as confirmation before a additional long entry

GreyPool

This is cool, the last minor distribution range and the newly forming re-accumulation range in BTC as back to back Looking for a Jumping Across the Creek (JAC) and/or Last Point of Support (LPS) next to break the 19700 resistance level

GreyPool

Expecting shorts to be in control in the next couple days at least down to 18k It appears to be a relatively small correction, the major, overall trend is still up

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Re-Accumulation Beginning in BTC

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Once price retraces to the top of the accumulation zone (LPS) and the test confirmation is successful BTC should bounce to 20000

GreyPool

The inability of price to break the 18900 level suggests a sharp move back down to at least 18000 is likely If 18000 doesn't hold the next stop is 17k

GreyPool

Break of 15800 Resistance Imminent, next stop is 16440 Today's close completes a reversal on the Daily which is a powerful signal and reconfirms the move up to 17000