Article provided by readtheticker.com

Bitcoin Wyckoff Accumulation Pattern
Created on: 7/24/2019 8:33:28 PM

bitcoin-wyckoff-accumulation-patternMany see a US recession in the first half of the 2020 decade. The first half of many previous decades suffered a recession, it is normal. But this time it may be different, well kinda different bad!

A reminder of US recessions in a first half of a decade: 1953, 1961, 1970-73, 1980-82, 1991, 2001-2002

Of course the 2007 to 2009 GFC was just short of a new decade. Yet the reader can see the trend of recessions in the first half of a decade is established, and not unusual. 

Recession indicators are all over the web.

US Recession



Yes, there is another one coming. The US and German 10 year interest rates signal this very clearly.

A recession is a lit match of asset price deflation, but what it will set fire to has yet to determined. 

Possible names for the crisis lit by a recession in early 20XX ?

- Corporate Bond Debt Crisis of 20XX

- US Pension Crisis of 20XX

- The Great China Debt Implosion of 20XX

- We are all European Now. The world of negative interest rates. 

- The Great Sovereign Bond Crisis of 20XX

- The Passive Investing Crash of 20XX

- The Great Liquidity Crisis of 20XX

- The Leverage Loan Crash of 20XX

[Or all of the above]


We know from the recent crisis of 2008 these things can happen:

- change in accounting rules

- printing money

- debase of currency

- create bad banks

- freeze bank accounts

- execute bank bail ins

- spreads explode

- fund redemption freeze

- bank holidays

- the world plunges further into a negative interest debt mess

- On and on!


On a US (or World) recession,  Bitcoin (and its sister Litecoin) will attract scared money, and it will not take a lot of scared money to get bitcoin to double from current levels. Of course if bitcoin attracts scared money so will silver, gold and the US dollar.  

Here are some price charts showing bitcoins current situation.

Accumulation looks good so far.


Wyckoff Bitcoin



Is it crazy for a single bitcoin to be worth $40,000+ USD, that depends, consider this, Jason Pollock No 16 sold for $32M (Nov 12 2016). Perceptions change. If the market decides, the market decides.

Pollock No 16 Painting below, $32.6 M smackers ... really!


Pollock Jason No 16



Price working through parallel channels


BTC Channel



Major Channels View: Green aggressive. Red moderate.

BTC channel parallel



Bitcoin is here to stay.

Litecoin Log Chart, Parallel Charts supporting price action


LTC channels




Divider




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. This post is a delayed and small sample of what is avaliable to members. Sign up to enjoy the full service.

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...

..“The market always tells you what to do. It tells you: Get in. Get out. Move your stop. Close out. Stay neutral. Wait for a better chance. All these things the market is continually impressing upon you, and you must get into the frame of mind where you are in reality taking your orders from the action of the market itself — from the tape.”…

Richard D. Wyckoff


.."The first rule is not to lose. The second rule is not to forget the first rule"

Warren Buffett


..“By failing to prepare, you are preparing to fail”..

Benjamin Franklin


.."October: This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February."..

Mark Twain


..“Because of the extreme challenge, one must commit full attention to it.” Market speculation is “no different than trying to be a successful doctor or lawyer … you simply must devote yourself full-time to the study of your craft”...

Bernard Baruch




Who is readtheticker.com: We are financial market enthusiasts using methods expressed by the Gann, Hurst and Wyckoff with a few of our own proprietary tools. Readtheticker.com provides online stock and index charts with commentary. We are not brokers, bankers, financial planners, hedge fund traders or investment advisors, we are private investors.

RISK DISCLAIMER
The information provided in this report should not be considered a recommendation to purchase or sell any particular security. There is no assurance that any securities listed herein will remain in an account's portfolio at the time you receive this report. It should not be assumed that any of the securities holdings listed were or will prove to be profitable, or that the investment recommendations or decisions we make in the future will be profitable. In addition we do necessarily agree with or endorse any outside commentary within this newsletter. Third-party data providers make no warranties or representations of any kind relating to the accuracy, completeness, or timeliness of the data they provide and shall not have liability for any damages of any kind relating to such data.This material, or any portion thereof, may not be reprinted, sold or redistributed without the written consent of readtheticker.com. If you have received this electronic transmission in error, please notify us by email via readtheticker.com 'Contcact Us' page, Thank you.

Source: https://www.readtheticker.com/Pages/Blog1.aspx?65tf=3444_bitcoin-wyckoff-accumulation-pattern-2019-07