Bitcoin in Wycoff Distribution?
Updated
Lower timeframes don't look quite as similar, unless you look at the 2h TF. The daily here has some striking resemblances though.
I am bullish on Bitcoin here, but I like to consider alternatives, and there could be a pretty decent case made that Bitcoin is about to enter Phase E of distribution and make a strong move down.
I am bullish on Bitcoin here, but I like to consider alternatives, and there could be a pretty decent case made that Bitcoin is about to enter Phase E of distribution and make a strong move down.
Trade closed: target reached
Idea worked, took a bit longer to complete phase E, closing trade
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