SIlver Vs Bitcoin wyckoff Logic

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I find the biggest successes in my investment / long term trades coming from looking at repeating cycles of similar assets coupled with fundamental analysis. Markets typically act with the same logic as explained by Wyckoff - i suggest further reading for those of you who are not familiar with his market hypothesis. I thought i would share this, both because i am fond of both markets but also because of the similarities between the two charts.

Bitcoin enjoyed a fantastic run up in 2013 and we know what happened following - a long painful year period of sell off, followed by a consolidation down to the $200 range, and well, the rest is history - to 20k in the following two years.

Silver experienced a slower but still phenomenal run up mid 2010 - 2011 and has since been trying to find a bottom. looking at the two charts i would say that it is fair to say that there is a similarity between the two. To me, it appears that silver is very much in the accumulation phase and looks like it is starting to show bullish signs.

Silver is a much more mature market and typically will move slower, which has both is advantages and disadvantages. I play both markets and am unbiased as a result, but i think that it appears that silver and indeed other commodities/precious metals look good to go to enter the mark up phase after a long markdown / accumulation time.

We shall see.

Best

filbfilb
Ghi chú
unfortunately Tradingview doesnt allow for the illustration to be fixed back in time so you need to move the BTCUSD to the left to get the picture

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Bitcoin (Cryptocurrency)BTCUSDChart PatternsSilversilverusdSLVTrend Analysis

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