Bitcoin & Rocket Bomb's view ð§10th of March
Hello, my dear friends! Let's take a look at the price movement of BTC from the point of Wyckoff Method !ðĄ
In the rectangle you can find an approximate scheme of accumulation - distribution (The Wyckoff Method), and I highlighted its application in ovals for an illustrative example.
A bit of history below (for a clearer understanding)ð
According to Wyckoff, the market can be understood and anticipated through detailed analysis of supply and demand, which can be ascertained from studying price action, volume and time. As a broker, he was in a position to observe the activities of highly successful individuals and groups who dominated specific issues; consequently, he was able to decipher, via the use of what he called vertical (bar) and figure (Point and Figure) charts, the future intentions of those large interests. An idealized schematic of how he conceptualized the large interests' preparation for and execution of bull and bear markets is depicted in the figure below. The time to enter long orders is towards the end of the preparation for a price markup or bull market (accumulation of large lines of stock), while the time to initiate short positions is at the end of the preparation for price markdown.
Don't rush to run long on Bitcoin yet, it's likely, that the growth will continue, but now we need to get confirmation!
In the meantime, the altcoin season continuesð
I hope you were interestedð
Don't forget to subscribeð
And stay with me foreverâĨïļ
Always sincere with You Rocket BombððĢ
In the rectangle you can find an approximate scheme of accumulation - distribution (The Wyckoff Method), and I highlighted its application in ovals for an illustrative example.
A bit of history below (for a clearer understanding)ð
According to Wyckoff, the market can be understood and anticipated through detailed analysis of supply and demand, which can be ascertained from studying price action, volume and time. As a broker, he was in a position to observe the activities of highly successful individuals and groups who dominated specific issues; consequently, he was able to decipher, via the use of what he called vertical (bar) and figure (Point and Figure) charts, the future intentions of those large interests. An idealized schematic of how he conceptualized the large interests' preparation for and execution of bull and bear markets is depicted in the figure below. The time to enter long orders is towards the end of the preparation for a price markup or bull market (accumulation of large lines of stock), while the time to initiate short positions is at the end of the preparation for price markdown.
Don't rush to run long on Bitcoin yet, it's likely, that the growth will continue, but now we need to get confirmation!
In the meantime, the altcoin season continuesð
I hope you were interestedð
Don't forget to subscribeð
And stay with me foreverâĨïļ
Always sincere with You Rocket BombððĢ
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Join me inððŧ:
ððĢ t.me/+aAADzO1OqsQ2MGI0
ð° I'm using Bybit and I highly recommend it to You. By using my link - You'll get a nice bonus
www.bybit.com/invite?ref=7X0W2A