Bitcoin in Wyckoff distribution
I see bitcoin, Ethereum, and almost all major alts now in similar patterns:
1. Short term Wyckoff distribution (black lines/text) which is bearish
2. Longer term Wyckoff accumulation(blue lines/text). If so, we could go sub-6000 to create a better "spring" in $4500-$6000 range with a capitulation that could touch ~$4500 around 78.6% fib. This would achieve the 78.6% fib retracement that we often see on multi-year time frame that occurs with any hypodermic/parabolic bubble break.
1. Short term Wyckoff distribution (black lines/text) which is bearish
2. Longer term Wyckoff accumulation(blue lines/text). If so, we could go sub-6000 to create a better "spring" in $4500-$6000 range with a capitulation that could touch ~$4500 around 78.6% fib. This would achieve the 78.6% fib retracement that we often see on multi-year time frame that occurs with any hypodermic/parabolic bubble break.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.