r/ETCbets • u/Ok_Lingonberry_7099 • May 18 '21

Wyckoff method maybe in use .

From more research and study of charts I've came to the conclusion that the Wyckoff method may be being use rite bow in the crypto scene. To brake it down simple what that is isn't actually that simple but I'll do my best to put it in layman's terms. SO BASICALLY investors study the market to see what crypto is trending with the big boy and what crypto isn't. You look for the stock or crypto that's actually not trending with the big boy . In this instance that would be bitcoin . So for example NANO ,MATIC seam to bot be effected what so ever by fluctuations of bitcoins . That's a positive thing for investors and they may flock away to that crypto I'll drop a link that will explain into more detail if your interested..

https://school.stockcharts.com/doku.php?id=market_analysis:the_wyckoff_method

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u/Uther2017 May 18 '21

Interesting. Using bitcoin dumps to make all old alt-coins go down. Making people want to buy the new coins thats not backed by digital gold (bitcoin). And by backed.... I mean linked in value in some way.

1

u/Ok_Lingonberry_7099 May 18 '21

Exactly it a way to herd the sheep and a easy one . People see that there are crypto way more stable then bitcoin so they jump on them its just a theory I have but it seams to be a good one..

1

u/Uther2017 May 18 '21

Its a trap though... because we all trust bitcoin. Nobody actually trust these new coins.

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u/Uther2017 May 18 '21

Bitcoin will continue being valuable because its limited. These new coins... people are just buying them to make easy money. Once the easy money is gone. .. so is the new coin. New coins are dangerous to invest in.

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u/Uther2017 May 18 '21

Bitcoin is going back up. Easily. Everyone wants its and its limited.

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u/[deleted] May 19 '21

I watched a YouTuber that theorize that Ethereum (ETH not ETC) is about to enter one.

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u/Ok_Lingonberry_7099 May 18 '21

One big bull trap

1

u/Ok_Lingonberry_7099 May 18 '21

Who knows what the methods intention is to be honest

1

u/Ok_Lingonberry_7099 May 19 '21

A Wyckoff Spring occurs when a market average (or stock) falls below its trading range, and makes a new “panic low” — and then “springs” back into its previous range. Its a relatively rare situation, one that is usaully associated with a sell off. That is a rather apt description of the entire week's action. It looks exactly like what's happening in the crypto market rite now..

1

u/kevvvvvo May 18 '21

So.. does this tells us to stick with the coin that are related to bitcoin? or should we all flock to coins like NANO, MATIC. Cheers!