BTCUSD - Wickoff analysis for the theoretically inclined

19 Mar 2018

Just thought I would make a chart for those that are into Wickoff theory to point out one possible outcome of this phase of the market.

1 Nis 2018

Not

As the scenario is starting to materialize, I expect a quick run down in the next few days/weeks that will get all the long stop losses positioned at the last low. A classical bear trap, should leave some room for a fast bounce as the new shorts get squeezed out of their positions. Wait for very high volume on a daily bar to confirm.

13 Haz 2018

Not

This old chart from March looked far fetched back then but seems more and more accurate as time flies. We now want to see either a quick bounce off the red line or a spring taking out the lows. Either way I started buying in increments and will continue to do so until the 4500 area with a long term view.