Roman Bogomazov, one of the great Wyckoff analysts, discusses that this pattern of "Reaccumulation After Decline" is the weakest of reaccumulation patterns.
I personally take this with a grain of salt when discussing the crypto markets. A bunch of tulip-freaks, we are.
As we can see from results, the market tests and price markup were textbook examples.
Based solely on volume, it appears as though the big shares may have reached their targets and are offloading.
Note: this is highly speculative, based only on the 1W chart (incomplete data), and based only on the last 4 bars of stagnant price, with moderate volume.
In the next post, I'll do the same analysis on the 1D chart. This should allow for a more complete speculation.
Cheers!
- B
I personally take this with a grain of salt when discussing the crypto markets. A bunch of tulip-freaks, we are.
As we can see from results, the market tests and price markup were textbook examples.
Based solely on volume, it appears as though the big shares may have reached their targets and are offloading.
Note: this is highly speculative, based only on the 1W chart (incomplete data), and based only on the last 4 bars of stagnant price, with moderate volume.
In the next post, I'll do the same analysis on the 1D chart. This should allow for a more complete speculation.
Cheers!
- B