BITCOIN 😲 Wyckoff Accumulation 👍 Still in Progress

3 มิ.ย. 2021

Finally, Bitcoin flips the 1H 200 EMA to support. A few bullish volume spikes show clues that retail traders may be flipping bullish. Just need more volume now.
✅1) Need to flip that 1H - 200 EMA to Support
🟡2) Volume should start increasing as retail traders take positions.
🟥3) Price needs to get to the $23,000 Resistance Line
🟥4) Reversal is only confirmed with a huge Volume Spike at Sign of Strength... 🔥🚀

3 มิ.ย. 2021

บันทึก

Correction:
🟥3) Price needs to get to the $42,000 Resistance Line

5 มิ.ย. 2021

บันทึก

As bullish volume expands, this is the phase of the Wyckoff schematic where traders will look to go Long.

✅1) Need to flip that 1H - 200 EMA to Support
✅2) Volume should start increasing as retail traders take positions.
🟥3) Price needs to get to the $42,000 Resistance Line
🟥4) Reversal is only confirmed with a huge Volume Spike at Sign of Strength... 🔥🚀

8 มิ.ย. 2021

บันทึก

Looks like the Wyckoff Accumulation has failed... 😭
Only sign of hope is the lack of increasing Bear Volume in relation to price dropping.
(Effort < Result)
Without Bullish Demand... the only chance of a reversal is a Short Squeeze by whales at $30,000...

9 มิ.ย. 2021

บันทึก

BITCOIN -- Supply and Demand ⚔ Battle Continues! 😬 Bullish volume expands at the bottom of Trading Range $32,000. (This was the "Hold the Door" moment in GOT. 🏋️‍♂️) In the Wyckoff schematic, this appears to be the SPRING 🐍. Bullish volume has entered... bulls escape the death trap to $20,000.

✅1) Flipped 1H - 200 EMA to Support
✅2) Bullish volume increasing as retail traders take long positions.
🟥3) Price needs to get to the $42,000 Resistance Line
🟥4) Reversal is only confirmed with a huge Volume Spike at Sign of Strength... 🐍🔥🚀

Admittedly, "Phase B" went on longer than I thought it could and had me faked out thinking this was a failed Wyckoff Accumulation... but the SPRING move changes this battle of Supply and Demand.

13 มิ.ย. 2021

บันทึก

BITCOIN -- Supply and Demand ⚔ Battle Is Coming to a Close! (after 25 days of agony 😓) Volume in relation to Price (Effort and Result)... have shown that Bears 🐻 had no follow-thru and the Bulls 🐂 gave clues of accumulation with increasing volume spikes. 🐍


✅1) Above 1H - 200 EMA to Support
✅2) Bullish volume increasing as retail traders take long positions.
🟥3) Price needs to get to the $42,000 Resistance Line
🟥4) Reversal is only confirmed with a huge Volume Spike at Sign of Strength... 🐍🔥🚀

🤪I can't believe it's been ranging sideways for nearly a month! (25 days to be precise.) I believe Bitcoin may take the lead, while the Altcoins may lag behind and range sideways for an extended time.