I found BITCOIN chart as a great practical example of Wyckoff's Theory.
BTC is overall bullish trading stuck inside a flat channel in brown and it is currently sitting around the lower bound/brown trendline acting as non-horizontal support.
As per Wyckoff Price Cycle, we are currently in an accumulation phase.
For the Markup to start, we need the bulls to prove control by breaking the blue channel and the last high in gray upward => projection in green
Meanwhile, and until the bulls take over, BTC can still trade lower before breaking the structure, or even form a lower low marked in orange, known as the Spring => projection in red
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
All Strategies Are Good; If Managed Properly!