Rarely will you talk about technical analysis without mentioning Dow , Magee, Livermoore nor Wyckoff.
It is worthy to note that this analysis is based off one of these legends work - Wyckoff.
As shown , the last impulsive move by SHIBUSDT originated from this range of accumulation . From the annotation and identification , we will observe that this is a perfect Wyckoff accumulation schematics with price approaching the LPS - Last Point of Support .
Interestingly , this zone confluences with the previous resistance turned support . Ideally , this level should be able to hold price , otherwise , SHIB will be making a new All Time Low !
Feel free to share your views
Are you new to Wyckoff method ?
It is worthy to note that this analysis is based off one of these legends work - Wyckoff.
As shown , the last impulsive move by SHIBUSDT originated from this range of accumulation . From the annotation and identification , we will observe that this is a perfect Wyckoff accumulation schematics with price approaching the LPS - Last Point of Support .
Interestingly , this zone confluences with the previous resistance turned support . Ideally , this level should be able to hold price , otherwise , SHIB will be making a new All Time Low !
Feel free to share your views
Are you new to Wyckoff method ?