BITCOIN Retest of $8,000 - WYCKOFF DISTRIBUTION Tutorial
מעודכן
Now, I wanted to take a look at something here. I am new to using the Wyckoff Method for the distribution phase of a chart's characteristics, So this for me is a lesson in time, I want to see how well our charting and recognition here actually come true.
In this area, there are Phases A-E
A fantastic write up here about this type of charting pattern. medium.com/@ColdBloodShill/wyckoff-101-part-4-distribution-a5bc3af15f4e
Quoted Misconceptions
There are a lot of misconceptions around distribution but not quite as many as with accumulation. I imagine this is because people are naturally more bullish than they are bearish. The major misconception usually occurs with assumption that an asset that has been in a strong uptrend will automatically enter a period of distribution at its “top.”
A little like accumulation (when a coin has bottomed) the first instinct should be to look for the Wyckoffian concept that supports the continuation of the trend. You should be looking first and foremost for signs of reaccumulation with a check on distribution.
This is one of the primary reasons I enjoy charting with Wyckoff so much. It allows me to follow the trend and chart accordingly, but at the same time it forces me to check my bias and prepare for an option that may cause the end of the trend in the short, medium or long term.
In this area, there are Phases A-E
A fantastic write up here about this type of charting pattern. medium.com/@ColdBloodShill/wyckoff-101-part-4-distribution-a5bc3af15f4e
Quoted Misconceptions
There are a lot of misconceptions around distribution but not quite as many as with accumulation. I imagine this is because people are naturally more bullish than they are bearish. The major misconception usually occurs with assumption that an asset that has been in a strong uptrend will automatically enter a period of distribution at its “top.”
A little like accumulation (when a coin has bottomed) the first instinct should be to look for the Wyckoffian concept that supports the continuation of the trend. You should be looking first and foremost for signs of reaccumulation with a check on distribution.
This is one of the primary reasons I enjoy charting with Wyckoff so much. It allows me to follow the trend and chart accordingly, but at the same time it forces me to check my bias and prepare for an option that may cause the end of the trend in the short, medium or long term.
הערה
So far this is playing out well. I would love to hear everyone input on how and why you see what is happening.
Arcane Bear Founder- Tijo
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youtube.com/arcanebear
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