I have been marking up the Bitcoin chart as its made it way down from the April high and have noticed pretty text book distribution and redistribution phases according to Wyckoff. The same could be said about the most current set up Bitcoin is presenting. Though, there are those that will argue with accumulation, and their arguments are convincing. Here is my take on the current state of Bitcoin through a wyckoff view.
What I expect? I expect another LPSY (last point of supply) and potentially a retest of the supply trendline before the mark down commences.
Currently I am short.
What I expect? I expect another LPSY (last point of supply) and potentially a retest of the supply trendline before the mark down commences.
Currently I am short.