Re: Stop giving your cheap btc to whales thanks to Wyckoff !
Great thread! I added it to my watchlist as soon as I found it (sadly, it was just a few days ago), and it's astonishing how accurate was the method here:
Price objective for the accumulation pattern highlighted in the first post in between 910 (for the most risk aversive) and 1044 (for the less risk aversive).
PS: this is just price objective regarding the accumulation pattern, and it should be carefully revisited as price fluctuate.
I've just bought a book about Wyckoff, and I really want to dig into it! However, I have a few questions; For instance, in the quoted message, you/he talked about the price objective; what is it exactly? I mean, what is it for? Is it a time for reversals? Or maybe new accumulation phases? Or you just have to wait until a new pattern is formed after that?
And what about the recent crash? How do you think it's going to evolve? (I'm more interested about the WHY than about the price direction itself;I really want to understand the market)
Finally, how does this relate to the "cup and handle" pattern we've been seeing and hearing about all these months? Is it compatible with Wyckoff method?
Price objective for the accumulation pattern highlighted in the first post in between 910 (for the most risk aversive) and 1044 (for the less risk aversive).
PS: this is just price objective regarding the accumulation pattern, and it should be carefully revisited as price fluctuate.
I've just bought a book about Wyckoff, and I really want to dig into it! However, I have a few questions; For instance, in the quoted message, you/he talked about the price objective; what is it exactly? I mean, what is it for? Is it a time for reversals? Or maybe new accumulation phases? Or you just have to wait until a new pattern is formed after that?
And what about the recent crash? How do you think it's going to evolve? (I'm more interested about the WHY than about the price direction itself;I really want to understand the market)
Finally, how does this relate to the "cup and handle" pattern we've been seeing and hearing about all these months? Is it compatible with Wyckoff method?
let's say price is a car, accumulation is when you put fuel in your car and distribution the opposite. All the accumulation phasis we went during more than 1 year enabled us to see in which price zone we will ran out of fuel.
for the moment, the crash didn't impact the uptrend, rather the opposite (confirmed it again). now I don't have crystal ball, just BTC cause i am confident we will go up from there (unless some abnormal event occurs of course, no free ride).
Cup and Handle can be compatible with wyckoff analysis as it induces accumulation, it's actually a good example to highlights supply and demand zones.