Sign of strength? (Wyckoff accumulation?)
Atualizado
Good evening,
was observing price action all day today, and something doesn't add up for the bear case.
as you all know, i'm nor bear nor bull - i trade both ways all day - every day - forever living the wolf life.
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btc is starting to build a very strong base down here. any attempt to take the price down beyond this lower region (green box) has been getting bought up by a really big buyer.
this is a sign of accumulation.
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i talked about the wyckoff scenario not too long ago via:
if we can confirm the wyckoff, we most likely will not be taking out the previous lows, and we could in theory confirm that the bottom was put in for the primary wave (4) through a running flat.
could take many weeks of consolidation down here, but ultimately this would just be a massive phase of accumulation before we go on the final run to 100k+.
now i'm not saying that this is what is going on, i'm just sharing my observation for today.
the short term bear case is still 100% valid, and until we can get further confirmation, i'm not going to jump to either conclusion, but rather will stay patient & open-minded to either scenario.
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as James Wyckoff once said: "everything you need to know about the market, can be found directly within the volume profile".
was observing price action all day today, and something doesn't add up for the bear case.
as you all know, i'm nor bear nor bull - i trade both ways all day - every day - forever living the wolf life.
------
btc is starting to build a very strong base down here. any attempt to take the price down beyond this lower region (green box) has been getting bought up by a really big buyer.
this is a sign of accumulation.
------
i talked about the wyckoff scenario not too long ago via:
if we can confirm the wyckoff, we most likely will not be taking out the previous lows, and we could in theory confirm that the bottom was put in for the primary wave (4) through a running flat.
could take many weeks of consolidation down here, but ultimately this would just be a massive phase of accumulation before we go on the final run to 100k+.
now i'm not saying that this is what is going on, i'm just sharing my observation for today.
the short term bear case is still 100% valid, and until we can get further confirmation, i'm not going to jump to either conclusion, but rather will stay patient & open-minded to either scenario.
------
as James Wyckoff once said: "everything you need to know about the market, can be found directly within the volume profile".
Nota
I'm really bullish on Avax, Sand, Alice & Cardano. Probably my top picks for this upcoming run.Looking back at the history of Btc, there hasn't been a time in recent history where btc closed 4 red weekly candles in a row. Usually the fifth candle is a parabolic reversal candle - which would be this upcoming monday (if history was to repeat itself).
Nota
Might be time for a video update (tomorrow). Nota
few bullish alternatives in mind ~Nota
overnight move has shown its true colors. volume doesn't support this fake rally - just another scam pump in my opinion.back to the sidelines for me.
👇
Nota
wyckoff semi-confirmed, now let's see that spring ~Nota
that ladies & gentlemen is the wyckoff ;)
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