This is an update on this TA: Description of the Wyckoff method can be found here: stockcharts.com As I mentioned in the old TA, things are moving much faster than I anticipated and there is also a glaring mistake in the previous pattern. This update uses price from Bitstamp instead of Bitfinex because the price history is longer and price actions are a lot...
One of the infinite potential outcomes that are dependent on the action taken in any given scenario. This particular scenario, if all conditions are met, would be the textbook 3 wave pattern.
One of my first reflexes when I'm in doubt is always to zoom out. With Bitcoin's exponential growth it only makes sense to look at the price in log scale. When trying to draw channels, you'll find some strikingly consistent levels. Some of these channels go back as far as 2011. As you can see we are currently at a key juncture. Koba