WYKOFF Re-accumulation Phase Underway??
Here we can clearly see some form of Wykoff shaping up. Given overall market sentiment and fundamentals (with regards to regulation and ETFs) im biased towards being bullish. That being said im betting on this being accumulation rather than distribution.
On the 4H chart we see a slow bleed down below ST at SOW which spent some time around here under accumulation soaking up liquidity before quickly brought up by strong hands giving us a sharp rally (giving us a sign of bullish strength). we may see a small range before breaking out to the upside with a quick retest back into the liquidity zone formed at the fake-out of UA.
On the 4H chart we see a slow bleed down below ST at SOW which spent some time around here under accumulation soaking up liquidity before quickly brought up by strong hands giving us a sharp rally (giving us a sign of bullish strength). we may see a small range before breaking out to the upside with a quick retest back into the liquidity zone formed at the fake-out of UA.
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