BTC WYCKOFF EVENTS ANALYTIC - 2021/06/23
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Introduction
Meant for clients/community/personal use.
4hr and especially larger time frames (6hr, 8hr, 12hr, 1day) are effectively adherent to analysis.
Summary
Personal analysis drove me to comfortably gauge current action placement in PHASE C.
The length of horizontal lines are placed in relatively similar fashion to historic WYCKOFF analytics and aligned with possible dates of importance;
they are neither definite and ever changing for validation and trade proficiency.
Phase lines will move according to price action events that occur.
Conclusions of events that have occurred by phases:
Phase A
Phase B
Phase C
[List]
*Spring
Note from studies:
'Springs or shakeouts usually occur late within a TR and allow the stock’s dominant players to make a definitive test of available supply before a markup campaign unfolds. A “spring” takes price below the low of the TR and then reverses to close within the TR; this action allows large interests to mislead the public about the future trend direction and to acquire additional shares at bargain prices. A terminal shakeout at the end of an accumulation TR is like a spring on steroids. Shakeouts may also occur once a price advance has started, with rapid downward movement intended to induce retail traders and investors in long positions to sell their shares to large operators. However, springs and terminal shakeouts are not required elements: Accumulation Schematic 1 depicts a spring, while Accumulation Schematic 2 shows a TR without a spring.' - Richard D Wyckoff
Conclusions:
Spring was effective upon engulfing 4hr up time frames.
My personal belief of patterns indicate Schematic 1 is conclusive.
Meant for clients/community/personal use.
4hr and especially larger time frames (6hr, 8hr, 12hr, 1day) are effectively adherent to analysis.
Summary
Personal analysis drove me to comfortably gauge current action placement in PHASE C.
The length of horizontal lines are placed in relatively similar fashion to historic WYCKOFF analytics and aligned with possible dates of importance;
they are neither definite and ever changing for validation and trade proficiency.
Phase lines will move according to price action events that occur.
Conclusions of events that have occurred by phases:
Phase A
- Selling Climax (SC)
- Automatic Rally (AR)
- Secondary Test (ST) - Often happen repetitively before shifting into Phase B
Phase B
- Secondary Test (ST)
- Broke Support
Phase C
[List]
*Spring
Note from studies:
'Springs or shakeouts usually occur late within a TR and allow the stock’s dominant players to make a definitive test of available supply before a markup campaign unfolds. A “spring” takes price below the low of the TR and then reverses to close within the TR; this action allows large interests to mislead the public about the future trend direction and to acquire additional shares at bargain prices. A terminal shakeout at the end of an accumulation TR is like a spring on steroids. Shakeouts may also occur once a price advance has started, with rapid downward movement intended to induce retail traders and investors in long positions to sell their shares to large operators. However, springs and terminal shakeouts are not required elements: Accumulation Schematic 1 depicts a spring, while Accumulation Schematic 2 shows a TR without a spring.' - Richard D Wyckoff
Conclusions:
Spring was effective upon engulfing 4hr up time frames.
My personal belief of patterns indicate Schematic 1 is conclusive.
Nota
Consolidation has stretched further right as concluded prior in post.Phases will be adjusted in accordance to price action.
Current level is showing weak bearish strength.
Penafian
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