Whales and institutions change the whole scenario by using trader behaviors and they know everything better than us.
It’s been a brutal couple of weeks for the crypto market. Everything from Bitcoin to shitcoin has shed billions of dollars leading to a 60% crash across the board. The worst part is that every time it looks like the crypto market is recovering some sort of fud manages to make the news, which causes another massive sell-off.
Then when all hope seems lost and you’re convinced cryptos dead the trend suddenly reverses and the fomo strikes back. Now, it’s almost as if someone is trying to make you feel fear & greed at just the right time to move the market in a way that makes them money and leaves you empty-handed.
This has been both a meme and a common saying in the crypto space for many years and it sounds like nothing more than a conspiracy theory. But what if I told you that this is exactly and that there is even a way to predict these market moves in the advance.
Today, I’m going to tell you about the Wyckoff Method, and how you can use it to protect your crypto portfolio and your sanity.
Disclaimer: All the content converted from Coin Bureau’s “Crypto Market Manipulation! Wyckoff & WHALES!” video after getting the whole permissions.
Technical Analysis Basics
To understand the Wyckoff Method, you need to be familiar with the basics of technical analysis trading. Now, I know this trading stuff can be overwhelming, but I promise to keep it simple and use plain English.
The Candlestick price charts we see today were invented by a Japanese rice merchant named Honma Munehisa almost 300 years ago.
Red candles mean that the price went down within a certain timeframe and green candles mean that the price went up within a certain timeframe. The wicks on each end of a candle show you the highest and lowest prices traded during a time period according to the time frame. So one candle on the daily is one day, on the hourly, it’s one hour, and so on.
As a rule of thumb, a long week at the top of a candle means a lot of people sold and a long week at the bottom of the candle means a lot of people thought the dip. Read More…