I'm Brandon, a senior stockbroker at a local securities firm and also a professional trainer with Singapore Exchange (SGX) Academy. Holder of Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) with over 10 years experience in the financial industry.
This blog aims to share how private traders can forecast price and trade in line with the market and smart money by applying Wyckoff principles and simple technical analysis techniques.
Monday, 11 February 2019
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.