Wyckoff Accumulation or Inverse Head & Shoulder $ALGO

27 May 2021

What do you think plays out?

This is the same for BTC and most alts right now.

28 May 2021

Not

Option #3 = Neither. Just need to make a little adjustment based on new info.

Re: The Wyckoff Chart adjustment. This is Schematic #1 with a Spring (i.e. big ass dip) intended to shake out the remainder of those weak hands. The benefit of the Spring is a quicker reversal and move upwards.

The Spring is not required, however, by shifting the trend a bit and transitioning to Schematic #2. The PS, SC, AR and ST would shift over to the double bounce where ST in PHASE B is currently located. The dip to $.67 (Spring) becomes the ST in PHASE B. Everything after that would then be LPS until it breaks out.

If Schematic #2 does play out we will see sideways movement for a while. If we do see a Spring and shift back the #1, we'll dip below $.67 but move up quicker.

Just a guess. I think we see Schematic #2 play out. and if you want to slant some lines it will probably look like a slanted inverse head and shoulder pattern.