Similarities to Wyckoff Accum
Updated
Here's that image again as I am seeing it, it usually gets messed up when publishing a chart so I've saved it here:
Though this is not coming out of a downward move, the pattern looks incredibly similar to Wyckoff Accum Schema # 1, and just coming out of the Spring, moving towards LPS and then SOS.
We could see a strong move up for ETH here. I have shown some bearish outlooks in the past, this is a bullish one. Bitcoin Dominance is also looking bearish atm, while Other.d is looking bullish. Eth.d is a bit neutral however.
Though this is not coming out of a downward move, the pattern looks incredibly similar to Wyckoff Accum Schema # 1, and just coming out of the Spring, moving towards LPS and then SOS.
We could see a strong move up for ETH here. I have shown some bearish outlooks in the past, this is a bullish one. Bitcoin Dominance is also looking bearish atm, while Other.d is looking bullish. Eth.d is a bit neutral however.
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Eth dominance just reclaimed its 200 day EMA and MA and may start looking bullish if it closes the week and continues holding above:
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