Bullish Case for Bitcoin


BTC Exhibiting Signs of Accumulation

 1 year after BTC price plunged from its US$20,000 high to a recent low of US$3,215.20, now we are seeing technical evidence of accumulation by the smart money is in progress.

Above is an illustration of Accumulation Zone of the Wyckoff Price Cycle. We are watching very closely for price to cross the creek (est. US$4200 level). 

 A break above the level, we deem that price has proceeded into the Mark Up Phase with 1st objective at US$5,800. If creek is not crossed, a break below US$3,190 will falsify our Accumulation zone analysis.

 Join us in our FREE Introduction to Richard Wyckoff Seminar to learn more about the method and how the method add value to your market timing analysis.

Popular posts from this blog

MIT: Expecting Change of Momentum after Existing Downtrend Line

Image
  MIT: Expecting Change of Momentum after Existing Downtrend Line What are we expecting? Mapletree Industrial Trust ( ME8U ) broke its key downtrend line on 18 Mar 21, technically signaling positive trend change. Similar to Apr 2020 move. Momentum Indicator, MACD (bottom of the chart) is displaying a upward sloping momentum which is supportive of the technical move. Who should be concerned? Investors:  Consider increasing allocation into ME8U under income portfolio, with current indicative yield of 4.50%. Traders: Taking Long positions  with 1st target price at S$2.95, next at S$3.30.Stop Loss below S$2.50. *Disclaimers apply
Read more

Keppel DC REIT, Are We There Yet?

Image
  Keppel DC REIT, Are We There Yet? Analysis Forecast: Potential Support Level Analysis is for: SG Market Position Trading Income Portfolio Supporting Technical  Observations : 1. Price resting near Fibo 50% Retracement 2. Fund Flow Index (FFI), positive divergence To follow up on post  TradingView Blog Disclaimers Apply
Read more

Expecting Further Upside for Tencent (700:HK)

Image
 Expecting Further Upside for Tencent (700:HK) Expecting further upside after Tencent leaves Re-accumulation Phase (Trading Range) possibility entering in Mark Up Phase. Over the Re-accumulation range, stock showed the transition from supply dominated action to weakening of supply to demand dominated action. Stock is trading relatively stronger than the broad market ( RS above zero), indicating strength in demand for the stock. Price trading below $550 level will falsify the Mark Up Phase analysis and stock will reenter trading range. Disclaimers apply
Read more