What are the common Wyckoff accumulation and distribution patterns seen in the cryptocurrency industry?

1 answers

• Nov 28, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, has observed the common Wyckoff accumulation and distribution patterns in the cryptocurrency industry. These patterns can provide valuable insights into the market sentiment and help traders make informed decisions. The accumulation pattern often indicates that smart money is accumulating the asset at lower prices, which can be a signal for potential buying opportunities. On the other hand, the distribution pattern suggests that smart money is distributing the asset to retail investors, which can be a signal for potential selling opportunities. Traders can use these patterns in combination with other technical analysis tools to improve their trading strategies and increase their chances of success.
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