Bitcoin Wyckoff - Lose yourself
There's an article from an interview with Blackrock saying its not institution buying, but lots of retail averaging 20k making up their volume. That means we are being distributed to.
The market moves at the path of least resistance, and I do believe the massive liquidation of shorts around 72k has made it easier to go down.
Also based on an AI I use, its suggesting a "heavy sell" around 71k (current price $70,900). So can Wyckoff explain what is happening?
I tried my best to put labels as though it was distribution. There are some merits to it and doesn't break any Wyckoff logic. The target is as always based pnf and are approximation.
Yes I change my mind a lot. It just that...an idea.
The market moves at the path of least resistance, and I do believe the massive liquidation of shorts around 72k has made it easier to go down.
Also based on an AI I use, its suggesting a "heavy sell" around 71k (current price $70,900). So can Wyckoff explain what is happening?
I tried my best to put labels as though it was distribution. There are some merits to it and doesn't break any Wyckoff logic. The target is as always based pnf and are approximation.
Yes I change my mind a lot. It just that...an idea.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.