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Bitcoin bounce from $28.8K activates century-old financial model's bullish thesis

From cointelegraph.com

A recent upswing in the price of Bitcoin (BTC) following a nail-biting price crash below $30,000 this Tuesday has activated a classic financial model's bullish outlook on the cryptocurrency. Titled Wyckoff Method, created by Richard D. Wyckoff in 1888, the model attempts at navigating financial market trends based on the relationship between assets' supply and demand. The method has two schematics: Accumulation and Distribution. In an Accumulation setup, an asset signals bottoming out following a sharper price decline. It eventually leads to the price rebounding to the upside. Meanwhile, the Distribution setup sees ... (full story)

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  • Category: Technical Analysis