Recent analysis of the bitcoin market reveals that the cryptocurrency is currently forming a Wyckoff Accumulation pattern, as indicated by schematic 4. This is a bullish signal for the market, indicating that accumulation of the asset is taking place before a potential upward price movement.
What is Wyckoff Distribution Cycle? An accumulation cycle is typically followed by what is known as Wyckoff Distribution. Wyckoff Distribution Schematic - After the dominant traders have increased their position during the Wyckoff Accumulation cycle, they will sell off their positions when the asset’s price is high. The Wyckoff Distribution cycle will happen...
Accumulation Phase Selling Climax (SC) - Selling Climax is a pattern in Accumulation phase characterized by a sharp selloff. It takes place before the Preliminary Support or PS. It indicates that selling pressure has reached a stage in which panic selling by the public will be absorbed by Big Institutional players or Smart money traders. Automatic Rally (AR)...
Setup Contains: - Wyckoff Distribution What is Wyckoff distribution? The distribution is sideways and has a range-bound trading period. It usually occurs after a prolonged uptrend. This is the trading zone where big players build short positions or distribute long positions and wash out retail traders. FOLLOW PAFX & LEARN AND EARN 💸
From 17th to 21st Aug was Clear Buying Climax .. WE know the Down Trend Started . The Question for us.. Is this Accumulation Or Re Distribution ? For Novice like me.. Its just not clear. I can sort of trade the UT and Springs.. JUST need to be more sure if the Trading Range is Too Narrow.. After a few UTs and STs we can be more assured . In case of BreakOuts in...
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Disclaimer..Not invested, not an investing/trading recommendation
Disclaimer...Invested, not an investing/trading recommendation