I've recently learned about the Wyckoff Method and this is an attempt to see where we are in his phases for the BTCUSD. Please feel free to critique and drop some knowledge bombs on me. I'm still trying to figure out how Wyckoff's Effort and Results plays in so I would love to hear from Wyckoff followers.
I believe we are either in the beginnings of Wyckoff's Markup phase or the beginning of accumulation.
SC- Selling climax on 03-30-18 after we hit a low of 6533.
AR- Automatic Rally on 04-14-18 increased buying pressure from Composite Operator as they accumulate.
Spring+Test- Composite operators test for supply to confirm bottom at 6599.
MU- 04-12 Markup begins after Composite operator is satisfied that supply has been exhausted. Rocket fueled by the short squeeze.
SOS- Show of Strength upward movement signaling the masses to fomo.
Continuation of markup until we reach the distribution.
My other hypothesis is that we are currently in Phase A's Automatic Rally. Which would play out well for any bears that are hoping the Composite Operator test the low of 6500 one more time before we get marked up.
One question I have about the first hypothesis is whether Accumulation to Markup can occur in such a short amount of time.