I don't know. The supposed "wyckoff distribution" that almost everyone seems to be referencing now, which took place mostly within the $50K to $60K range, took months to develop. What we see here, after the $29K local bottom is about 2 weeks worth of price action.
I'm not so sure that an accumulation would happen over such a short period considering how long they (the "big boys") drew out the distribution, but, I guess, changing around the variables is part of the game.
We should know soon enough.
Yea I mean it works on any timeframe, but yes you must be consistent with timeframes when comparing different periods.
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