Wyckoff accumulation in ETHUSD

5 sept. 2018

The price action of ETHUSD since August 2018 is neatly following the standard Wyckoff accumulation pattern. Although some look at it as a bearish pennant which is breaking down, this idea tries to show the bullish potential of Ethereum. It is also to be noted that the ETHBTC pair has basically bottomed around the point indicated as SPRING, by touching several historical support lines, adding to the support at this price level. Although some small downside can still be expected, the pattern should resolve in an impulsive markup within days, with first target around $300, and expected further upside.

8 sept. 2018

Note

Totally and utterly invaldated. Rekt.