Wyckoff Long term view
By no means a Wyckoff specialist, but I have dabbled in it a fair bit. Critiques and improvements welcome.
We are so addicted to short TFs with crypto that sometimes we may forget to look at much larger movements. Did a quick Wyckoff chart looking at the entire 2018 till now. Just for fun I added EW to this (I hate EW) and I would expect a long drawn out 4 till the end of the year. Run up next year.
Volume is still low, even on the recent shakeout. Targets for what essentially was a 3 year accumulation phase should be higher, and if it was distribution (already) volumes on the recent dump should have been much higher.
Nothing much else to say really. Not suitable for day traders or short term swing traders as no bottoms are being called. Just a more zoomed out look at the market.
We are so addicted to short TFs with crypto that sometimes we may forget to look at much larger movements. Did a quick Wyckoff chart looking at the entire 2018 till now. Just for fun I added EW to this (I hate EW) and I would expect a long drawn out 4 till the end of the year. Run up next year.
Volume is still low, even on the recent shakeout. Targets for what essentially was a 3 year accumulation phase should be higher, and if it was distribution (already) volumes on the recent dump should have been much higher.
Nothing much else to say really. Not suitable for day traders or short term swing traders as no bottoms are being called. Just a more zoomed out look at the market.
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