Bitcoin accumulation is real

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). 

For those not interested in Wyckoff wizardary charts then here is a fundamental chart. Chinese juice and the change in BTC price.

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