Thread by @TrueCrypto28

#BTC Wyckoff review

On this first schematic from May 1st, you will see the "weak accumulation schematic" that has a LOCAL distribution built-in which was ALWAYS my primary read

Wyckoff is a word that most shouldn't whisper until they take a year-long deep dive into the subject

https://twitter.com/TrueCrypto28/status/1388548415819223040

Due to the fact that short dives into Wyckoff get the amateurs hung up on schematics when Wyckoff is about an open-minded look at the trading range w/ the goal of identifying the phases

Here is my chart from May 6th that showed the Distributive side of this bigger picture view

However, immediately upon dumping, I wanted to point out that my Higher TF view was still a LOCAL DISTRIBUTION inside a HTF reaccumulation (where weak hands transfer supply to Strong hands) & wanted to point out that a reaccumulation story was still alive

https://twitter.com/TrueCrypto28/status/1395703083112468482?s=20

and added an analog

https://twitter.com/TrueCrypto28/status/1395823350384050183?s=20

and for good measure, I added the fact that $36.5 was our likely "Creek" (the supply we needed to jump) along with the fact that we wanted to see it tested and hold which it did immediately

https://twitter.com/TrueCrypto28/status/1419331777320165382?s=20

and then to take an extra step when everyone said we were done, I added that I was seeing "Vertical Absorption" showing that supply was being accumulated at natural resistance and that Bulls had taken control (& we extended an extra 20% beyond)

https://twitter.com/TrueCrypto28/status/1420888581095165958?s=20

Once you are proficient w/ Wyckoff you will still have times when you are right or wrong. However, there is a HUGE difference between being wrong w/ comprehension of your chosen techniques vs using something you don't actually understand

We win or we learn! Be a forever student