BTC -- Wychoff Accumulation Test
Updated
Howdy Yall!
It was time to take a look at the accumulation test for Wychoff events. Without doing a formal count on a strength test (Why would I with modern Relative Strength Indicators, and a passing accumulation indicator?) I have utilized all of the important tests for accumulation of an asset by Wychoff onto this chart. Obviously some don't count, as many readers know. Being as BTC IS the index -- and market cap in crypto is NOT an accurate measurement, I have placed the tests on the right side.
I'm long. I'll remain in the long category, but we must raise an eyebrow at the fact that we have not had a secondary test of this phase. We have passed all of the tests, but one of the subtests is a secondary test in THIS phase. If we are to assume we have entered a new phase, we should have supplied a secondary test. I don't see one. It appears as though the rest of the tests have passed.
I hope you take a look, make it yours, and make your own assessment.
It was time to take a look at the accumulation test for Wychoff events. Without doing a formal count on a strength test (Why would I with modern Relative Strength Indicators, and a passing accumulation indicator?) I have utilized all of the important tests for accumulation of an asset by Wychoff onto this chart. Obviously some don't count, as many readers know. Being as BTC IS the index -- and market cap in crypto is NOT an accurate measurement, I have placed the tests on the right side.
I'm long. I'll remain in the long category, but we must raise an eyebrow at the fact that we have not had a secondary test of this phase. We have passed all of the tests, but one of the subtests is a secondary test in THIS phase. If we are to assume we have entered a new phase, we should have supplied a secondary test. I don't see one. It appears as though the rest of the tests have passed.
I hope you take a look, make it yours, and make your own assessment.
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It appears as though, the market gave us our secondary test.Go figure huh?
I've added it to the chart. How fun is it that the secondary test happened right on my x mark? (coincidence, I didn't guess that at all!)
Enjoy peeps! I'm still bullish :)
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