BTC Wychoff distribution on the weekly
Inspired by the Wychoff analysis by Uncomplication and the theory of lengthing cycles by Benjamin Cowen, both excelent youtubers.
A few days ago when I was zooming out to look at the weekly BTC trend noticed that this might be the start of a Wychoff accumulation cycle but on a way more long term then we have seen before. Now I am no trader or technical analyst so this is just a simple drawing of what I think a long term accumulation could look like as shown in a lot of examples.
I'll be keeping a eye out to see if I might have found something or we just rocket to 200k and don't look back. This idea is definitely not a price prediction it might do the same but way higher or just be complete nonsens in the end. We will just have to wait for a few years to see how wrong I was.
A few days ago when I was zooming out to look at the weekly BTC trend noticed that this might be the start of a Wychoff accumulation cycle but on a way more long term then we have seen before. Now I am no trader or technical analyst so this is just a simple drawing of what I think a long term accumulation could look like as shown in a lot of examples.
I'll be keeping a eye out to see if I might have found something or we just rocket to 200k and don't look back. This idea is definitely not a price prediction it might do the same but way higher or just be complete nonsens in the end. We will just have to wait for a few years to see how wrong I was.
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