IT SEEMS COMPLETE Big Move Hinted as Wyckoff Looks Finished on Altcoin Market, Bitcoin Price Holding

IT SEEMS COMPLETE Big Move Hinted as Wyckoff Looks Finished on Altcoin Market, Bitcoin Price Holding

[Music] hey what’s going on everybody this is the blockchain backer bringing you the latest cryptocurrency news and Analysis today we’re going to briefly talk about the Bitcoin price chart however once again we’re going to focus actually over here on the altcoin market and wof accumulation and are we on the actual brink of getting this thing moving here very soon we’re going to talk about the structures of woff accumulation what we’ve seen happening in this market so far bouncing around between various assets and whether or not we’ve actually already got to those phases as we actually do see what appears to be these completed at this point throughout various aspects of the market then of course as we know where we are right now with the altcoin market and how we saw exactly the same thing back in 2020 before things got moving into 2021 as for Bitcoin in general there’s not a whole lot of things that are very interesting to say about the price action that we haven’t already gone through outside of it just still kind of looking like what it looked like back in 2021 before the big surprise hit the market and we actually saw expansion happen throughout the altcoin market still Bitcoin just kind of continues to waddle around up here near the upper bound of this range but the real interesting stuff seems to be coming from the altcoin market now if you’re not familiar with it we’ve actually spent a lot of time talking about yoff accumulation throughout the past and a huge shout out to xrp bits for helping find these clips one of those assets we spent quite a bit of time on back in August and September of last year so almost a year ago was BNB then as we all should know after that yoff spring was completed prices ended up shifting their way and BNB is one of the few major cap alt coins to be able to set a new all-time high last year we spent a lot of time talking about wof accumulation and you could take a peek of what we had to say at that time B&B is okay and you have everybody bearish at the low which is total normal sentiment unbelievable amounts of fud and bearishness at the bottom that you completed yof accumulation this is your spring your final little push uh and that uh everybody is bearish at the B I don’t own any BNB by the way but that would be my bet Market I also put out a long thread over there on Twitter on July 88th of last year talking about yoff accumulation and how we’ve seen those structures show up a lot here we are taking a look at charts that are going on currently right now with the ranges that have been here since April showing yof accumulation final phases of them that’s also what we were doing back in July of last year in this long thread we talk all about the different phases of it what they can look like whether are their last points of supports or whether they’re aggressive Springs that end up creating a scary moment right there at the end and then going through various assets to show which ones have done really just exactly that whether it was cardano showing all the different phases followed by the creek and the spring only for it to break out and go or chain link doing the same thing the creek and the break for the spring to then eventually break out and go or Sheba enu which don’t kill me for posting this one because at that time in July talking about that was perceived as Voodoo and being a dummy but of course even ship did break out and go so talking about woff isn’t something new that we’ve done on this channel we do it all the time if the phases are there and it’s appropriate to talk about it and right now it does have the appearance that we see these things throughout the market and so as you know we’re talking about looking at the altcoin market from this perspective to say hey are we at least making some structures throughout the market that would have Confluence with us doing something like this like that’s kind of the last moment before things go notice it’s just a bunch of washes back down to the lows and then that’s the moment that kind of catapults it out of there well if you were in yof accumulation you would expect that to be your spring and then it just catapults it and it just keeps on going so the question is do we see wof accumulation happening throughout the market someone in the live stream yesterday asked hey do you see that over there on avac and ironically I’ve already had it kind of written up on several of them cuz I had spotted it as well not just on avac but on xrp and over here on Adam which I didn’t have written as pretty as the other ones but even in this thread from July 8th we talk all about the different phases that happen in woff accumulation I posted a screenshot in here of one of the PDFs that are included over here on BCB backer.com to talk all about the different phases that happen in here from the preliminary support to going to the selling climax automatic rallies secondary test secondary test in Phase B followed by your spring then expansion which is still included over here on this July 8th thread if you want to go look it up if you’d like to take a look at this actual structure of a trading range and how they can complete themselves you can Google search for anatomy of a trading range by Jim Forte which includes the schematic that we are looking at in here where we have our Creek and our spring phase to happen in here so when we go through and look at these and we start like counting out are the phases there for some of these altcoins like xrp avax atom do we see them on there right so the first thing we look for of course in the trading range is the preliminary support to end up holding which we get right the preliminary support after it bounces and then breaks the top of that preliminary support that boundary behaves as near the peak of our trading range that we’re going to operate in from there right then everything kind of happens and washes around still it can poke above the preliminary support but just kind of hangs out in that and that’s our area right so here we go we end up having what on April 12th and 13th that’s our big liquidation throughout the market so we liquidate over a billion dollars throughout the crypto market and we have our initial preliminary support there on the first liquidation there on April 12th that becomes our range boundary top in here for our preliminary support then we end up having our selling climax right that ends up being the final liquidation and our selling climax to take us down to the low after that an automatic rally that shows up right there was not an automatic rally that showed up in here after the preliminary support but we do get a decent Siz rally kind of throwback that happens a rubber band effect followed by our secondary test then what do we do we go back to the peak where the preliminary support is which we could see over here right then what happens we P back down in for our secondary test in Phase B we have to work through this area notice the working through to finally go into our Creek into our Creek and then have our spring and have our spring and you can see how this Creek just works it takes one attempt to get out and then boom right Creeks down one attempt to get out boom all phases are there for wof accumulation right here on this current range from the preliminary support selling climax automatic rally the secondary tests with the creek followed by the spring so in this type of accumulation schematic what would be the next phase it would be to go escape from the range right it would mean that we have now completed the anatomy of a trading range does that have Confluence to what we’re talking about in here that this would be the completion of that range and then things start moving that’s the same thing that we see happening over here whether it pans out like that or if the market crashes and crumbles that’s a completely different thing but we could say hey is there Confluence to these two different things that we’re looking at if we’re looking at it just by like copying and pasting fractals based on what we’ve talked about before okay we could do that a million times our eyes can deceive us and it can make us want things that we want right you can just go grab some random fractal overlay it and say hey this is what I want to happen or you can try to say are there other things that could make my argument a little bit stronger and when we see the whole completion of a trading range or why off accumulation that makes the argument A Little Bit Stronger right it makes the speculative bet have a little bit more justification to it another example of this on like a larger time frame is actually what monero’s been doing for the last year and a half this is like the collapse of Celsius and three Aro Capital right right here’s Luna and us then it just goes into a massive accumulation schematic that lasts for two years with the sellling climax the automatic rally secondary test secondary test in Phase B followed by the creek in the spring now back back to the top of the trading range and while this is a very large range right this is 2 years we’re really more focused like right on the last two months right from April 13th which was two months ago today and so we look over here on things like avac right and it’s the same story in here that we see the initial preliminary support from the fall that took place on the 12th here’s your preliminary support followed by the 13th with your selling climax right automatic rally secondary test goes and pokes above the top of the preliminary support in here right all this phase all this phase up followed by the creek and the spring right all phases are in there again complimenting what we’re talking about happening in here that this would be spring phase and like this spring phase which we can see all of these things have the same anatomy in here as well of what happened during that time which this fractal is taken here from September and October of 2020 which right here is September and October of 2020 that we really do the same things in here to get ourselves down to this point of where we are right now where we sort of have these five waves that get us there to where we are right now hanging out down here so there’s just a tremendous amount of Confluence in here for us to be at this spot whether we’re just looking at the structure and the behavior of this compared to the timetable and the price action of what happened last time or what we’ve seen happen on other assets and how these ranges can play out or or if we’re actually looking at technical analysis strategy documentation and research papers that have been put out that were creating structures that have all the phases of what would be reaching near that end point which at the same time has Confluence to other things that would indicate hey when we did this before that was also the circumstance of what happened that this was the end point and it’s also a technical analysis strategy at the same time so it’s very fascinating to be here right now and my favorite thing to do to come on to the channel is show you guys stuff and try to prevent doing like extreme hopium of like we’re going to go up for the sake of going up there’s too much of that kind of content over there on YouTube but like when we can give like legitimate visuals and the reasons why it’s absolutely my favorite and it just it’s clear as day on how all of these phases are in here and however the market pans out it pans out but you can at least clearly see the thing that I see in here without it just being a bunch of hey we’re going up for the sake of going up there’s legitimate reasons why in here when it comes to what a a completed range would look like so fingers crossed that is what we do end up getting like I showed earlier this week that this has actually moved on the exact same timetable as what we’ve moved at before even from the Peaks The Falls the beginning of these ranges when it all started like it started back there when we started rising from c19 in here and all this stuff that if we continued moving at that that hopefully by this weekend we would start to see something like that I hate predicting time it’s the worst thing I have no Edge on predicting time except if I can see things that are very interesting in here and the things that are interesting is that this has moved literally exactly on time the whole time if I kind of move that down a little bit so we can visually see it a little bit better just every phase of getting through here has been right on time and well if we’re going to shift back up into the top this range that would hopefully happen within the next couple of days and so that’s where that’s where I also beat my head against the wall and I say well okay we’re going to try to predict time which we’re going to fail at 99% of the time if we’re going to try to do it and if this thing says we’re heading back up in a couple of days are there are there other elements in here that would say we would move back to the top of the range like that in the next couple of days and that’s where we get these structures in here to say okay well wait a minute this has been in this range for two months right now has it done all the phases of an anatomy of a tring range or a woff accumulation and it has the appearances that it has and what would be the next phase in that anatomy of a trading range or a woff accumulation it would be back heading back to sign of strength and where does sign of strength take place at at the top of the range so those elements are there hopefully we end up getting it we’ll check in on it again tomorrow and then of course uh if anything happens throughout the weekend of course I’ll be posting over there on Twitter but I hope that you enjoyed this I hope you enjoyed seeing it from my perspective and the things that I’m looking at currently right now hopefully it gives you some something to play with and go look around on the charts as well but on that note we’ll start kind of wrapping this thing up you guys go check out my newsletter over here on blockchain backer substack tocom where there are two newsletters put out here per month with both with audio recordings that I personally audio record myself the most recent one talking about all of these confluences that we are seeing currently right now to what we did see in 2020 and 2021 it’s getting near the middle of the month so another newsletter will be put out there in two days and we’re actually going to take a look back through a lot of that development activity the total value locked with user activity levels nft levels and take a Peak at how 2024 is doing in relation to what we saw back in 2020 when we went through all of these different types of data sets to see what actually ended up mattering in there in 2020 and 2021 we had combined all of those metrics together from 2020 and 2021 to see what would that look like in 2023 in 2024 so we’ve been actively working here to see all right how are all of those particular data set doing here in 2024 have things changed do those metrics matter I’ll give you a little hint yes those metrics have matter they have outperformed the market but that newsletter will be released in 2 days from right now you can go check out the most recent one that was published over there and go catch up on all those past ones even if you are already subscribed to the newsletter I would highly recommend going back and rereading all of those or Rel listening to all of those ones and that whole series that took place right there because we’re going to go back through that and see see how this Market is doing right now and if we are getting ready for another leg to head back up have the developers mattered has total value locked mattered I can tell you right now it’s been very interesting to see that it has but that will be released there in 2 days keep your eyes out for that you could also check out BCB backer.com I have over 40 videos and 11 hours of content teaching you how to set up your own charts and your own indicators within trading view in coin Trader Pro also in there yoff accumulation yoff distribution where we talk all about these anatomies of a trading range in there so we do a complete walk through on those there’s also Elliot wave theory in there the historical Behavior their market and a lot of other things as well that were helpful along the journey like shown over there on Twitter there’s downloadable PDFs in here that are supplemental to a lot of the different sections within the course that’s available over here on BCB backer.com there are links in the descriptions of each of my videos and live streams to BCB backer.com and to the newsletter over there at blockchain backer.com otherwise guys I hope you have a wonderful day I want to thank you so much for watching if you could please like this video and give it a thumbs up if you’re new to the Channel Please Subscribe and hit the notification Bell so you could be notified of when I create new content and when I go live as always this is not investment advice and I am not a financial adviser but if you ever need a pickme up or a little bit of reassurance just remember that the blockchain backers got your back have a good one [Music]

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Hi, I am the Blockchain Backer, bringing you the latest cryptocurrency news and analysis. The content of my channel primarily focuses on crypto news, motivation, and chart analysis on the XRP chart, Bitcoin chart, various Altcoin charts, and market cap charts.

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