BTC Wyckoff Accumulation Phase - UPDATED!
< #NotInvestmentAdvice >
I previously published a version of this that I now believe was overly-pessimistic. With a couple additional days of hourly bars closed, I believe this updated version lines up the Wyckoff events far more accurately.
In particular, I believe the Phase "A" events (PS, SC, AR, ST) line up perfectly according to their textbook descriptions, which places us solidly into Phase "B" at this time.
PLEASE NOTE: The dotted projection lines & arrows are conjecture/guesstimation ONLY - it is impossible for anyone to predict exactly where the market will move in the future.
Having said that, I believe the remainder of this accumulation phase will very likely follow the general parameters of this Wyckoff pattern. Personally, I am preparing take modest profits between
42K-
46K in preparation fro a possible plunge below 
29K intended to shake out any remaining "weak hands" and transfer their BTC to the Large Interests and the Composite Man Composite Man . If that does happen, I want to be prepared to accumulate along with those interests.
Note that NOT all Wyckoff accumulations involve the "Spring", and in fact we may not even drop below29K, that may have actually been the Bottom. But after the turbulence of the past couple weeks, I'm not betting my portfolio on that, and I'm making sure I am fully prepared for both of these contingencies, and I have a plan in place in case of further drop. I suggest *everyone* has their own plan in place appropriate to their personal investment strategy. (If you happen to be using leverage, BE CAREFUL and do not engage in wishful thinking! Plan in advance what you'll do if you need to ride BTC down to an unanticipated low!)
Again, personally I do NOT believe we are in a bear market; I believe what we are seeing is the result of blatant & obvious market manipulation by the Large Interests that want to buy our crypto at fire-sale prices (<30K? WTF??? That's just GREEDY!) I expect these interests are going to try to hold our heads underwater until we lose our nerve, capitulate, and cash out at current prices or lower. I have no interest in doing that. I *hope* we've already bounced off the bottom & have a linear move straight up to the Moon, but I don't really believe that. Hope for the Best, but Prepare for the Worst ...
Lastly, I STRONGLY URGE you to spend 20 minutes educating yourself on the basics of Wyckoff theory by reading the overview page at: school.stockcharts.com/doku.php?id=market_analysis:the_wyckoff_method
Technologies change, but human nature & emotions don't, which I believe is why this 100 year old theory still provides value!
</ #NotInvestmentAdvice >
I previously published a version of this that I now believe was overly-pessimistic. With a couple additional days of hourly bars closed, I believe this updated version lines up the Wyckoff events far more accurately.
In particular, I believe the Phase "A" events (PS, SC, AR, ST) line up perfectly according to their textbook descriptions, which places us solidly into Phase "B" at this time.
PLEASE NOTE: The dotted projection lines & arrows are conjecture/guesstimation ONLY - it is impossible for anyone to predict exactly where the market will move in the future.
Having said that, I believe the remainder of this accumulation phase will very likely follow the general parameters of this Wyckoff pattern. Personally, I am preparing take modest profits between
42K-46K in preparation fro a possible plunge below 29K intended to shake out any remaining "weak hands" and transfer their BTC to the Large Interests and the Composite Man Composite Man . If that does happen, I want to be prepared to accumulate along with those interests.Note that NOT all Wyckoff accumulations involve the "Spring", and in fact we may not even drop below
29K, that may have actually been the Bottom. But after the turbulence of the past couple weeks, I'm not betting my portfolio on that, and I'm making sure I am fully prepared for both of these contingencies, and I have a plan in place in case of further drop. I suggest *everyone* has their own plan in place appropriate to their personal investment strategy. (If you happen to be using leverage, BE CAREFUL and do not engage in wishful thinking! Plan in advance what you'll do if you need to ride BTC down to an unanticipated low!)Again, personally I do NOT believe we are in a bear market; I believe what we are seeing is the result of blatant & obvious market manipulation by the Large Interests that want to buy our crypto at fire-sale prices (<30K? WTF??? That's just GREEDY!) I expect these interests are going to try to hold our heads underwater until we lose our nerve, capitulate, and cash out at current prices or lower. I have no interest in doing that. I *hope* we've already bounced off the bottom & have a linear move straight up to the Moon, but I don't really believe that. Hope for the Best, but Prepare for the Worst ...
Lastly, I STRONGLY URGE you to spend 20 minutes educating yourself on the basics of Wyckoff theory by reading the overview page at: school.stockcharts.com/doku.php?id=market_analysis:the_wyckoff_method
Technologies change, but human nature & emotions don't, which I believe is why this 100 year old theory still provides value!
</ #NotInvestmentAdvice >
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