Bitcoin = Wyckoff Distribution 😱
Updated
The Wyckoff Distribution Schematic is the most feared pattern among the bulls.
Volume confirms the bearish price action.
Everyone is in full greed mode with pending Bitcoin ETF approvals and the whales see this opportunity to "buy the rumor, sell the news."
Volume confirms the bearish price action.
Everyone is in full greed mode with pending Bitcoin ETF approvals and the whales see this opportunity to "buy the rumor, sell the news."
Note
🚨 Wyckoff Distribution will be invalidated if price moves back above the Upthrust After Distribution at $45,865.Note
💡 Phase D is where supply dominates. Downward price action must be confirmed with increasing bearish volume! Otherwise, bulls may have enough demand to reverse the pattern and bounce the price back up.Trade closed: stop reached
Wyckoff Distribution failed. Whales could not stop the bulls!🚨 Over the weekend, lack of bear volume showed that price action had a chance to reverse.
💡 Today, increasing bull volume confirms bullish breakout above the Upthrust After Distribution.
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