Potential Wyckoff "spring"
ETHXBT tests the broken Downtrend channel here. At the same time this marks "the spring", using a simplistic Wyckoff model.
IMO Wyckoff works better, when you don't overcomplicate it. Of course much that is called "Wyckoff" today, isn't.
Fun fact: You won't find him using the term "spring" in the way it's used by self-proclaimed Wyckoffians in his orginal work. It's just a shakeout. But he does talk about stocks that are "on the springboard", and
ETHXBT looks like it here.
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