Bullish Expectations Continues for BTC

Bullish Expectations Continues for BTC

There are many techniques written on price action (price and volume analysis).

Wyckoff Method is one of techniques that relates price action with demand and supply.

New to TA trades may be shaken out of the trade after observing the wide red sell off candle (or bar), bearish engulfing pattern.

However, Wyckoff principles denotes the action as bullish.

Compared to the previous wide green candle, where he volume is large but the red wide sell off volume is about just half which translate to weak supply.

Thus, despite BTC is currently trading in range, demand and supply continue to suggest Demand > Supply.

Expectations remains on the upside.

But as Wyckoff traders, we are always on the alert for any incoming supply. 10,500 is our downside pivot.

Cheers.

Wyckoff's Law of Effort

Law of Effort Wyckoff's Law of Effort states that on any single trading day (or week depending on time frame), huge volume (effort) push by participants should see huge price movement, resulting in a wide spread (long body). This is a basic principle of effort and result. However, as per Singtel's case study, we saw huge selling volume on 11 May, yet the price action only shows a narrow spread (small body). This divergence of effort and result in Wyckoff's Law of Effort principles, indicates possible exhaustion in selling or hidden buying. Thus, with a lack of weakness, Singtel should continue trading range bound for the coming days or weeks till further strength or weakness is observed. Swing Traders who trades range can consider positions at 3.70-3.72, with exit target 3.76-3.78.

DBS Group Holdings (D05): Upward Move Expectations

DBS Group Holdings (D05) Upward Move Expectations Technically, price trading above 36.58, could see DBS Group retest previous high of 38.55. Both Relative Strength and momentum indicator FFI are supportive of the move. Stop below 35.42 Disclaimers apply

Keppel DC REIT (AJBU): Expect price to trade towards S$2.00

Keppel DC REIT (AJBU) Expect price to trade towards S$2.00 We have observed a decrease in technical supply at the S$1.80 support area during recent trading sessions. Furthermore, a softer interest rate outlook could be advantageous for the Data Centre operator. Consequently, we anticipate the REIT to move towards our initial target of S$2.00, with the potential to reach S$2.20 if it breaks through resistance. Our stop level is set below S$1.72. Disclaimers Apply

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