We Are In Phase C of the Wyckoff Accumulation Pattern
Hi Everyone,
I have applied the Wyckoff Accumulation Pattern to ETC.
I previously posted a Wyckoff analysis on the Total Crypto Market, and it clearly shows we are in Phase C of the pattern.
For ETC, I argue we are also in Phase C; however, sellers have been more aggressive in ETC, than the overall crypto market.
I suspect we have gone through most of the selling, and as volume picks up we will see more buyers and an eventually push into $62-$72 by the end of July.
We still have to breakthrough the 50 and 100 MA on the 4hr before we are truly heading to $62, but once broken, there should be nothing stopping it.
If ETC fails when exiting the upper end of the support, then I suspect we will be heading much lower into the $20 range.
I have applied the Wyckoff Accumulation Pattern to ETC.
I previously posted a Wyckoff analysis on the Total Crypto Market, and it clearly shows we are in Phase C of the pattern.
For ETC, I argue we are also in Phase C; however, sellers have been more aggressive in ETC, than the overall crypto market.
I suspect we have gone through most of the selling, and as volume picks up we will see more buyers and an eventually push into $62-$72 by the end of July.
We still have to breakthrough the 50 and 100 MA on the 4hr before we are truly heading to $62, but once broken, there should be nothing stopping it.
If ETC fails when exiting the upper end of the support, then I suspect we will be heading much lower into the $20 range.
