Stop giving your cheap btc to whales thanks to Wyckoff !

[dmwardjr]

I'm about to do something in this forum, for the sake of experimentation, to simply encourage discussion.  I WILL START FROM SCRATCH and may take the course of several days.  As I have limited time with so many things on my plate at the moment.  This will result in numerous posts.  Buy hey, that's what this forum is for, right?  

I will begin with showing it's virtually impossible, at our current location on the weekly chart, to get a firm grasp on proper breakout levels from history in 2013.  Which see below...  Also, those breakout levels from history, if there were any, could change four years later; based on market conditions.  If one disagrees, please elaborate.  

Maybe you're wondering why so high?  They should be spread out much more than that.  I'm working towards bringing us into lower time frame for the sake of discussion.

[dmwardjr]

This is where I've put major breakout levels on the weekly in purple.  I think you see what I'm up to with the red lines.  Our top two purple lines divided by a red line is UNCHARTED TERRITORY.

[dmwardjr]

Looking at 2013 on the Daily, one may argue to put the red line where I have now and moving the top purple breakout line to it's current location.  I've found it's easier to get more precise with what I'm going to call "ACCUMULATION LINES" later on.  Are they always used for accumulation points?  No.  Why?  Cause points of accumulation can change on the fly depending on market conditions.  Especially, if we had LONG periods of accumulation before breaking out and falling into another accumulation phase after profit taking from all the coins accumulated over a LONG period of time.

KEEP IN MIND, am I doing this on the WEEKLY?  No.  I'm doing this on the Daily to find where the composite man is working, so to speak, before breakouts on the weekly to prepare for profit taking.

The goal I'm trying to achieve is finding where the composite man wants to "work" after this previous breakout at $774.33.  I will eventually show you later on WHY I'm working so hard to figure this out once I show you from previous charts "in lower time frames"

[dmwardjr]

After introducing the Accumulation Lines and Breakout Lines, I want to show, especially after 2013, how we often have TWO Accumulation Lines between breakout lines for CM to work in a BULL market.  Which see:

Am I saying there will always be accumulation at the red lines?  No.  Have a look at May 23rd, which was the beginning of what I call a DOUBLE BREAKOUT.  MOST anytime we have a double breakout, especially with crypto currency of any sort, you can pretty much count on there being a BIG correction that ends up in a DOUBLE THROWBACK.  Meaning, we threw back not only the 2nd breakout point we crossed but also the first breakout point as well.  Which see.  In this case, the lower red accumulation line was skipped.

Double Throwbacks usually result in a flash crash, so to speak.   Not finished with this.... taking a break to eat and watch the TIDE ROLL.  I'll edit and finish this specific post when I get back.

[Wind_FURY]

I am not an active trader, all I do is buy when the prices are low and hold. I also intend to hold Bitcoin forever. Now I want to ask if that chart above this post is starting to look like one big giant cup and handle? If it is then would it bring us one big giant price move going up?

[sandiman]

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.

Time to pay attention.

[Rahar02]

Nice opening and clear explanation about the price manipulation by Composite Man that cleverly play on trading market.
Panic sell is the worst condition from people who do not know about this, sell out bitcoin just give them more advantages.
Again, who had big cash could manipulate the market, appreciate the explanation and hopefully more users understand it.

[PokerFace3]

Nice opening and clear explanation about the price manipulation by Composite Man that cleverly play on trading market.
Panic sell is the worst condition from people who do not know about this, sell out bitcoin just give them more advantages.
Again, who had big cash could manipulate the market, appreciate the explanation and hopefully more users understand it.

Unfortunately not just in bitcoin trading, even in forex trading and commodity trading the innocent traders are getting trapped by professional traders by creating sudden panic by forcing them to sell off in losses. Maybe it is also part of trading, but traders without clear-cut idea facing big problems due to this types of manipulations.

[dmwardjr]

If one wants to learn how to navigate FX well, these are excellent videos to learn from one of the best in the business.

http://theinnercircletrader.com/Tutorials.htm

He teaches you how to get an idea of how whales will move the market and when.  Study them for about 6 months while using a demo account with play money before diving in with real money.

Also, WATCH PART #2 [FIRST] of the first group of videos at the top to get inspiration.  THEN, start from PART #1 (start over).  This will help you not only with FX, but with other trading as well.

[Karartma1]

This is such a good thread which is showing how early adopters will probably get robbed of most  of their coins by the Composite Men (aka whales here). Looking at OP I supposed sandiman was talking about the recent activity: I got astonished when I realized he basically predicted the course of action we've seen recently.
Well done 

[dmwardjr]

This is such a good thread which is showing how early adopters will probably get robbed of most  of their coins by the Composite Men (aka whales here). Looking at OP I supposed sandiman was talking about the recent activity: I got astonished when I realized he basically predicted the course of action we've seen recently.
Well done  

Yes, Sandman did an excellent job providing a couple of examples of moves C.M. makes over the course of time.  There are also many trades one can make in the shorter time frames while the long time frame [Wyckoff refers to] plays out.  It can still kind of get nerve racking at times if one sits in front of the monitor all day watching it play out.  For instance, one may see a drop during the 4h chart that frightens them.  They get emotional and begin to question their analysis.  This is part of being new to trading.  One has to always remain calm.  But most importantly, have a plan (A, B & C) if A, B or C were to occur.  It also helps to know and understand other indicators.  Such as RSI and MACD for example.  Look at them both in the Weekly, Daily, 12h, 8h, 4h and 2h.  I want to have an idea of where momentum, strength and volume are heading in the long, mid and short terms to also give an idea of what trades can be made while the Wyckoff cycles play out.  Especially, those cycles at the end of a long bear trend that end with a Selling Climax.  Look at Decred (DCRBTC) on POLO.  Just occurred.

I actually have 12 coins I'm watching at the moment.  All of which are in some part of a cycle towards a spring.  Not all will spring but most of them probably will.




And AUGUR (REPBTC)



And STEEM (STEEMBTC) just to name a few.

[dmwardjr]

Just some food for thought.  Please feel free to share your thoughts, Sandman.  Anyone else feel free as well.

The reason I have ETH, XMR and DASH on this chart with BTC is because they are more expensive than other alt coins and they are also traded in US Dollars; just as BTC is traded in US Dollars.

If you have trouble reading what is below, feel free to click this link to get to the publishing for easier reading:  https://www.tradingview.com/chart/BTCUSD/KYs3gIYv-BASED-ON-THE-FOLLOWING-INFO-WHAT-WILL-BE-THE-NEXT-MOVE/

[Mallyx]

Thanks for your analysis, Wyckoff is so cool 
Could you please check for Waves on Bittrex, 1d chart ? Seem we passed SB and soon entering in SPRING, am I right ?

[Lisaren]

Right now there is definitely a huge pump in the price of BTC. There is definitely going to be also a shortage in the BTC that people are willing to dump on the market very soon.

So yeah, hold your bitcoins and you'll profit a shit ton from it.

Target around 1000$, maybe if someone determine that we just when through a re-accumulation phase and use it to determine target price, it'll give us a more precise one and confirm the prior range.

Yes, Thank you for your share. I expect bitcoin will be back 1,000$ soon. maybe the price at the bottom line will be at 600$ before rising up highly.

[sandiman]

Right now there is definitely a huge pump in the price of BTC. There is definitely going to be also a shortage in the BTC that people are willing to dump on the market very soon.

So yeah, hold your bitcoins and you'll profit a shit ton from it.

Target around 1000$, maybe if someone determine that we just when through a re-accumulation phase and use it to determine target price, it'll give us a more precise one and confirm the prior range.

Yes, Thank you for your share. I expect bitcoin will be back 1,000$ soon. maybe the price at the bottom line will be at 600$ before rising up highly.

That was in June, it's now obsolete after late price action for which the tape needs to be studied.

[slap]

Thanks for your analysis, Wyckoff is so cool 
Could you please check for Waves on Bittrex, 1d chart ? Seem we passed SB and soon entering in SPRING, am I right ?

I would be interested to, thanks sofar.

[eiprol]

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?

[molecular]

wyckoff discussed in this video by Josh Olszewicz.

Just thought I'd drop that here in case anyone's interested.

[SHAWN-MIDWAYS]

its good to see people opening our eyes on the impact of selling our bitcoins for a cheap price to the whales,
i just hope more people can read this piece of info and realize that price and its existence does depend on the supply and demand chain.

[sandiman]

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?

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.