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Wyckoffmarkup

ALGO completing Wyckoff accumulation phaseAfter a multi-month period of mark-down ALGO is exhibiting the final stages of Wyckoff's accumulation model: 1. Preliminary Support (PS) established 2. Selling Climax (SC) achieved 3. Automatic Rally (AR) occurred 4. Secondary Tests (ST) occurred 5. Price broke key resistance level (Sign Of Strength / "crossed the creek" 6. Price Backed Up ("walk back to creek") The next phase is the mark-up phase. This could correspond well with a mid-term rally off SPY support level.
FTX:ALGOPERPLong
by cryptomius
Bitcoin breaks 42,500. What's next for BTC now?When looking at the bitcoin chart you can see that for months now bitcoin couldn't break the 41,000 - 42,500 level. Now that the short term indicators have cooled off, and bitcoin has broken resistance. I think we will see our next major test In the 48,000 range. That's a pretty decent upside even if you were to take a position today. Somewhere around 10%. Now remember how I said to study the Wyckoff patterns. Well now that we seem to be leaving the accumulation phase, that means we need to track its new movements to understand what its next phase will be. It should be the "markup" phase, but we need to make sure. I predict that we will see Coinbase (coin) finally catch up to the rest of the crypto stocks. My prediction of the altcoins catching up with bitcoin was correct. Also that bitcoin would need to retrace before breaking resistance. I know I cant be right 100% of the time, but my TA so far has been on point. Follow me for more Stock and Crypto updates.
COINBASE:BTCUSDLong
by AlexStone
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