Hello everyone,
This is not my idea but I got this from uncomplication from Youtube on how Bitcoin follows the Wyckoff Distribution Phase. It was uploaded a month ago and I tried to update it myself and see where we are now.
Wyckoff is a method that consists of 4 phases: Accumulation, Markup, Distribution, and Markdown.
Currently, Bitcoin is in the Distribution phase. I manage to plot the price actions based on Wyckoff Distribution Schematic #1. I think we are in Phase D's Last Point of Supply. Note that I am not an expert in the Wyckoff Method. There are many resources for that if you want to learn more as I am also learning myself.
Cheers,
This is not my idea but I got this from uncomplication from Youtube on how Bitcoin follows the Wyckoff Distribution Phase. It was uploaded a month ago and I tried to update it myself and see where we are now.
Wyckoff is a method that consists of 4 phases: Accumulation, Markup, Distribution, and Markdown.
Currently, Bitcoin is in the Distribution phase. I manage to plot the price actions based on Wyckoff Distribution Schematic #1. I think we are in Phase D's Last Point of Supply. Note that I am not an expert in the Wyckoff Method. There are many resources for that if you want to learn more as I am also learning myself.
Cheers,
Comment:
What if what we're seeing right now is the accumulation phase? See new idea below:
