BitcoinLong
Elliott Wave + Wyckoff Analysis combined
I redrew my Wyckoff Accumulation Phase schematic (in black) to align with my Elliott Wave count.
I think the stars are aligning....
Compare with:
d.stockcharts.com/school/data/media/chart_school/market_analysis/wyckoff3/wyckoffaccumulation.png
The prices have been behaving very differently in the last week than other at other times. What has normally in the past led to a mass panic and sell-off has instead resulted in quite resilient attempts to return to trend lines and rebound. There has been a lot of sideways movement.
This has led me to believe we are in a Wyckoff Accumulation phase, and as you can see that by overlaying the Wyckoff schematic over the current (and projected) price movement, they seem to align quite well for now.
We will see. It will be interesting to see if this is correct.
I think the stars are aligning....
Compare with:
d.stockcharts.com/school/data/media/chart_school/market_analysis/wyckoff3/wyckoffaccumulation.png
The prices have been behaving very differently in the last week than other at other times. What has normally in the past led to a mass panic and sell-off has instead resulted in quite resilient attempts to return to trend lines and rebound. There has been a lot of sideways movement.
This has led me to believe we are in a Wyckoff Accumulation phase, and as you can see that by overlaying the Wyckoff schematic over the current (and projected) price movement, they seem to align quite well for now.
We will see. It will be interesting to see if this is correct.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.