Wyckoff Distribution sadly showing its' face here. Amidst the overt euphoria around ETF's and big names getting into Bitcoin, a sad reality has set in - the same pattern that ended the last 2 bull runs (2017 and 2021) is also appearing now.
What's the implication here?
->That the uptrend run is completed. All the work getting us here is being undone.
Also:
-Targets: $50k to
36K
-New accumulation period required for further upside
-Rallies are for selling
-Invalidation occurs above $71k
I'll gladly take the L on this not playing out - I'd much prefer this to the alternative. PROVE ME WRONG PLEASE!
What's the implication here?
->That the uptrend run is completed. All the work getting us here is being undone.
Also:
-Targets: $50k to
36K-New accumulation period required for further upside
-Rallies are for selling
-Invalidation occurs above $71k
I'll gladly take the L on this not playing out - I'd much prefer this to the alternative. PROVE ME WRONG PLEASE!
Follow me on each of my platforms to keep up to date:
Twitch.tv/CryptoJack
Twitter.com/@CryptoJackLive
tradingview.com/u/Crypt0Jack/
youtube.com/@cryptojacklive
Twitch.tv/CryptoJack
Twitter.com/@CryptoJackLive
tradingview.com/u/Crypt0Jack/
youtube.com/@cryptojacklive
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.
Follow me on each of my platforms to keep up to date:
Twitch.tv/CryptoJack
Twitter.com/@CryptoJackLive
tradingview.com/u/Crypt0Jack/
youtube.com/@cryptojacklive
Twitch.tv/CryptoJack
Twitter.com/@CryptoJackLive
tradingview.com/u/Crypt0Jack/
youtube.com/@cryptojacklive
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.