We Are In Phase C of the Wyckoff Accumulation Pattern
Hi Everyone,
I have applied the Wyckoff accumulation pattern to the sideways price movement of the Total Crypto Market that has occurred since the first major dip in late May.
I believe we have entered Phase C of the accumulation pattern and have gone through most of the sell pressure we will experience; the volume has picked up and more buyers are stepping in.
We still are not out of the woods yet, as we are approaching the 50, 100, and 200 MAs on the 4hr and to break their resistances before we are really home free.
I expect some small dips as we move into Phase D, where we will eventually breakout of the resistance into the highs of May, and we enter another accumulation phase.
I am long on crypto and own: BTC, ETH, ETC, NANO, XLM, and ICP.
I have applied the Wyckoff accumulation pattern to the sideways price movement of the Total Crypto Market that has occurred since the first major dip in late May.
I believe we have entered Phase C of the accumulation pattern and have gone through most of the sell pressure we will experience; the volume has picked up and more buyers are stepping in.
We still are not out of the woods yet, as we are approaching the 50, 100, and 200 MAs on the 4hr and to break their resistances before we are really home free.
I expect some small dips as we move into Phase D, where we will eventually breakout of the resistance into the highs of May, and we enter another accumulation phase.
I am long on crypto and own: BTC, ETH, ETC, NANO, XLM, and ICP.
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.