ETH/USD Wyckoff Schematic

Jul 23, 2022

A simple Wyckoff pattern on ETH/USD and may provide some value.
The aggressive breaking of the bottom edge will provide a clue about the side we will favour and the latter pullback will lock our thought in.
Even though our for now analysis is favouring short position the pullback will define our mind, as a strong pullback can turn things bullish making the schematic an Accumulative one that will lead to higher prices.

https://www.tradingview.com/x/C2edztFa/

Jul 24, 2022

Note

As things are escalating we are now to a position to either value an Accumulation Schematic without a Shakeout that seem like this:



Or in case we still favour the short position our Scheme has not yet completed the Phase B and will be like:



The breaking of this zone will help us decide, but our thought for now is on the first scenario as the volume is confirming the up move.