Ethereum has just completed a textbook multi-year Wyckoff Accumulation.
Crypto funds (or "whales") have aggressively bought Ethereum in the first half of the range (point 1).
The upthrust in phase B (2) and the reaction on low volume (3) are both elements of strength.
After the COVID selloff in March (4), price has quickly recovered on good volume off the lows.
Supply has emerged lately (5) but buyers are aggresssively buying at higher prices.
The accumulation is complete and we expect the resumption of the multi-year uptrend.
Follow the Wyckoff Crypto Discussion on Youtube!
Join us each Thursday on Youtube for a discussion of the cryptocurrency market from a Wyckoff perspective.
Crypto funds (or "whales") have aggressively bought Ethereum in the first half of the range (point 1).
The upthrust in phase B (2) and the reaction on low volume (3) are both elements of strength.
After the COVID selloff in March (4), price has quickly recovered on good volume off the lows.
Supply has emerged lately (5) but buyers are aggresssively buying at higher prices.
The accumulation is complete and we expect the resumption of the multi-year uptrend.
Follow the Wyckoff Crypto Discussion on Youtube!
Join us each Thursday on Youtube for a discussion of the cryptocurrency market from a Wyckoff perspective.
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www.wyckoffanalytics.com/
Stocks, Commodities, Indexes,
Cryptocurrencies