Bitcoin Trend Analysis - Bitcoin & ChainLink Analog
A trend is generally composed of three stages:
1. Momentum- 2. Absorption - 3. Speculation
The price action of Chainlink in March-July is a perfect case study. 1) Initial momentum after extreme oversold condition 2) absorption on low volume and spreads and then a final acceleration.
Bitcoin is currently in the second stage: higher highs and higher lows on low volume suggest that speculators have not joined the trend yet. If the analog will work, we can expect an acceleration in the third stage of the uptrend. We have explored this case study in our Wyckoff Crypto Discussion, watch the full episode here:
https://www.youtube.com/watch?v=lcyugRX4f6U&t=921s
Join us each Thursday for a discussion of the cryptocurrency market from a Wyckoff perspective!
1. Momentum- 2. Absorption - 3. Speculation
The price action of Chainlink in March-July is a perfect case study. 1) Initial momentum after extreme oversold condition 2) absorption on low volume and spreads and then a final acceleration.
Bitcoin is currently in the second stage: higher highs and higher lows on low volume suggest that speculators have not joined the trend yet. If the analog will work, we can expect an acceleration in the third stage of the uptrend. We have explored this case study in our Wyckoff Crypto Discussion, watch the full episode here:
https://www.youtube.com/watch?v=lcyugRX4f6U&t=921s
Join us each Thursday for a discussion of the cryptocurrency market from a Wyckoff perspective!
Wyckoff Method Trading and Education
www.wyckoffanalytics.com/
Stocks, Commodities, Indexes,
Cryptocurrencies
www.wyckoffanalytics.com/
Stocks, Commodities, Indexes,
Cryptocurrencies