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Bitcoin / TetherUS
Short

Wyckoff distribution event

By Pepe41111
Updated
After failled attempt to break down form support (26 700), Btc is testing highs, again. In case we will fail breaking the resistance to the upside there is potential for distribution event. Also the RSI showing us bearish divergence on many timeframes. On the other hand we are in strong uptrend for last monthes and there is possibility for testing the 30k level. So setup your SL on top of the potential SFP. Be patient and wait for Swing failure pattern.
Good luck.
Note
Patterns to know:
SFP : tradingview.com/scripts/sfp/
Distribution: school.stockcharts.com/doku.php?id=market_analysis:the_wyckoff_method
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snapshot
0,618 perfect entry point
BTCUSDTChart PatternsdistributioneventTechnical Indicatorsvolatiltywyckoff
Pepe41111

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