Bitcoin - A Wyckoff Cycle Study
Updated
In this study, I have overlayed the Wyckoff Distribution phases over the Bitcoin chart, and project a recovery with the Wyckoff Accumulation phases.
I acknowledge the work done by YouTube user "uncomplication" in his published video on Wyckoff Distribution. See his video here: https://www.youtube.com/watch?v=Lhf_2gJJS1I&t=373s
For insight into what the abbreviations signify and what the Wyckoff Cycle is about, you may like to review https://www.wyckoffanalytics.com/wyckoff-method/.
I acknowledge the work done by YouTube user "uncomplication" in his published video on Wyckoff Distribution. See his video here: https://www.youtube.com/watch?v=Lhf_2gJJS1I&t=373s
For insight into what the abbreviations signify and what the Wyckoff Cycle is about, you may like to review https://www.wyckoffanalytics.com/wyckoff-method/.
Note
Just an update following the developments of the past few days:Looks like it's on track.
Note
Well we've seen a green candle today. But still within the bounds of error for the resistance line. Here I've added a dotted line to highlight the resistance across the upper wicks of the green candles within this trading range. If it is going to fall, we are knocking on the door. It will either break upwards and rally hard, or Mr. Wyckoff will be right and Goldman Sachs are running the show now.
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