Price-cycle phases (Wyckoff)

The four phases

Accumulation — price has stopped falling and is basing sideways, often on declining volume, typically after a downtrend. Markup — price is trending up with expanding volume, the phase most often associated with sustained moves.

Distribution — price is basing sideways after an uptrend, often on declining volume — the mirror image of accumulation. Markdown — price is trending down with expanding volume, the mirror image of markup.

Why it matters here

The phase read is descriptive of current price structure, not a signal to act on. We pair it with RSI and the reference levels (see below) so you can see the full technical picture in one place rather than one indicator in isolation.