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Created on: 2/13/2023 1:38:39 PM Last Update: 2/13/2023 1:38:51 PM Posted by: RTT
1 POST
Bitcoin accumulation is real
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 Richard Wyckoff told his students think of waves of price and volume. This in short is the essence of tape reading.
There are not many books which actually assist money making, yet Tim Ord book below certainly helped this site.
In the book above Tim Ord expands Richard Wyckoff logic and how to review a chart waves of price and volume. Lets use bticoin as an example (code is within readtheticker.com Analysis chart, more examples here)
The chart below uses a fixed bar period to form a 'price wave' and sums up the raw volume for each price wave. Up price waves are blue, down price waves are red.
To expand further, lets examine the consolidations A and B.
Consolidation A shows red volume higher than blue volume, blue volume is not substantial at all, hence there was little demand, little accumulation, and the consolidation result was one of re distribution to lower prices.
Consolidation B shows blue volume higher than red volume, blue volume is substantial, hence there is solid demand, strong accumulation, and this consolidation is leaning to pure accumulation which is likely to lead to higher prices (of course this pattern does not mean a spike to a new low, like a terminal shake out, is not off the table).
Click for popup. Clear your browser cache if image is not showing.
For those not interested in Wyckoff wizardary charts then here is a fundamental chart. Chinese juice and the change in BTC price.
NOTE: Posts here are the lite version, more depth on each subject can be found via our RTT Plus membership.
Changes in the world is the source of all market moves, to catch and ride the change we believe a combination
of Gann Angles,
Cycles,
Wyckoff and
Ney logic
is the best way to ride the change, after all these methods have been used successfully for 70+ years.
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NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net
Investing Quote...
..."I was brutal in self-analysis. He told his sons his conclusions: “Successful trading is always an emotional battle for the speculator, not an intelligent battle.”…He knew that his biggest enemy was his own emotions."...
Jesse Livermore
.."No amount of evidence will ever persuade an idiot"..
Mark Twain
.."The key to making money in stocks is not to get scared out of them"
Peter Lynch
.."It is better to keep your mouth closed and let people think you are a fool than to open it and remove all doubt."..
Mark Twain
Novice Traders trade 5 to 10 times too big. They are taking 5 to 10% risks on a trade they should be taking 1 to 2 percent risks.
Bruce Kovner
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We at readtheticker.com hold the view that a mix of stock chart technical analysis, Richard Wyckoff, William Gann and Jim Hurst methods plus market fundamentals allows the investor to formulate a very sound market opinion. These attributes are mutually inclusive and must be weighted equally before investing or trading in any Stock, ETF, Currency, Bond, Commodity, CFD or Mutual Fund
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