tapeshark

#WyckoffMethodReaccumulation trading range is a BUA sitting on top of a previous accumulation, looking to initiate a long position as strength builds up in Phase D on the breakout of the re-accumulation trading range

#WyckoffMethod #TapeReading #TrendAnalysis #Forecast #BitcoinSignalsAs Bitcoin completes the 'Spring' action in Phase C of the 'Price Structure' which acts as the 'last test of the demand' price advances into Phase D of the trading range. We now want to see a 'Change of Character' with a 'major sign of strength' confirming Phase D and giving us the opportunity to locate another low risk entry point within the 'price structure'.Entry 2 on this chart is the point at which the price action if it advances will return to the greater trend and if we are able initiate a position we can aim for at least a 3R return from the (presumed) price level of 'Entry Point 2'

#WyckoffMethod #TapeReading #BitcoinForecastBitcoin is trading in a re-accumulation local trading range. Price Structural Analysis tells us we are currently most likely in Phase C as price is 'testing the lows' of the trading range, forming and accumulation structure of which it is currently looking to breakout.These characteristics of the price action are consistent with Phase C of the re-accumulation trading range.From here I would like to see a Major SOS in the Active Trading Range, possibly in the form of a BUA at the neckline of the Active Trading Range. A breakout from this structure or similar in Phase D would then create a Point of Entry from which to execute an early first trade.

SOS Appearinglocal accumulation major sos characteristic of phase d starting to appear looking for points of entry

As can be seen in the 15 minute chart, the volume profile point of control is centred in the middle of the Active Trading Range and price is building 'cause' in Phase B. At this point we have both a spring and price subsequently trading higher in Phase B therefore the balance of trading so far in this phase is neutral and there are no clear indicators of strength yet as we look for signs of Phase C to develop.

#WyckoffMethod #BTCUSDForecast Following on from yesterday's trend analysis the reaccumulation trading range on BTCUSD is beginning to take shape (most prominently) on the 15 minute chart (30 minute chart shown) where the POC is within the centre of the trading range. Irrespective the 30 minute POC (shown) is acting as support confirming the bias of the trading rangeWhat I would like to see is how Bitcoin tests the 4 hour SMA in Phase C or D in the forecast development of the trading range in order to identify a 'Point of Entry' to initiate a long trade.

#Wyckoff #TrendAnalysis #BTCForecastBTCUSD is currently in Phase A of of local re-accumulation trading range. Looking to initiate long position in Phase D of the current active range. The location of the price is the first pullback / test of the spring in Phase C of the greater trading range. I would like price to washout and test the spring with a deep retracement to the 'heckline' of the spring._________________________________________________________________________________COPY MPASTED FROM CHART: Continuing on from yesterdays analysis price is now retesting the 4 hour SMAand an assumed 're-accumulation active local trading' indicated in yellow is under development. At this point in time the 'automatic reaction' (AR) is still underway. Completion of the AR will occur when a secondary test of the'buying climax' is achieved

Gold is currently trading in Phase B of a bullish re-accumulation structure. Although I am uncertain as to which 'Scenario' (A or B on the chart), will play out, I am certain on the overall direction of the market based on the greater trend. The greater trend is up, we are trading in a higher trading range. Price may test the top of the previous range and confirm a Phase C (which is the outcome described in Scenario B), ultimately price will eventually advance to the top of the trading range and eventually out into a mark up / price discovery. From the perspective of risk to reward, the low volume area at the bottom of the 4 hour profile provide an excellent area to look for long trade entries if price does retrace and attempt to test the top of the previous trading range.Currently watching gold looking for a long signal.

Trading range A and B have an median range of 10%.Trading Range A was 66 days to completionTrading Range B is 63 days old and still underwayTrading Range B appears to be completing a 'Spring'meaning that the intermediate trend appears to be reversed and price will now advance to test the top of the trading range. Depending on the characterof this movement we could be in Phase C of TradingRange B

Following on from yesterdays analysis (03-05-24) Bitcoin has broken out of its range and advanced to the daily SMA. I believe that even though the intermediate trend is down (within a greater bullish re-accumulation structure) Bitcoin will likely test lower with significant bullish pullbacks as the market reverses over the coming days and weeks into an overall bullish trend / structure on all timeframes (after testing daily volume profile nodes or POC).#Wyckoff #WyckoffMethod #TapeReading