Another Wyckoff xD That's re-distribution not accumulation. Basically a B wave before a C.
yeohwa
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What we need is patience.
Asimov93
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It doesn't make any sense in market context. Accumulation after a first big drop? Really?
VagrantAI
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@Asimov93, Yes, there can be Accumulation multiple times per market cycle, on various timeframes. This is just the 6H timeframe, and doesn't indicate a new ATH or anything, so why wouldn't it make sense?
@Ali-Mani, I believe that the accumulation phase was one of many theoretical scenarios Wyckoff outlined. He used this accumulation pattern as one option that the composite man may stock up on an asset which has good underlying fundamentals. He's not wrong, and your not wrong. What we do know is that Bitcoin has historically followed this schematic time and and time again, so it's not OUTRAGEOUS to assume that it will happen again. People listen better when you don't attack their views and instead provide a source for them to further their education (like the name of Wyckoff's book you are referring t). Let them learn it, or not learn it, on their own.