We're In Wyckoff Distribution Phase D, Not Accumulation Phase C
Updated
I've seen a lot of videos on YouTube trying to fit the Wyckoff Accumulation Phase C on Bitcoin's current chart. I just don't see it. What I do see is the Wyckoff Distribution Phase D, and here is how I see it. I thought point E would have reached 37K before falling, but it looks like we may have already reached that peak.
Now, I'm not always a bear or a bull. I just call 'em like I see 'em. Right now, things are looking pretty bearish to me.
Now, I'm not always a bear or a bull. I just call 'em like I see 'em. Right now, things are looking pretty bearish to me.
Note
Things looking very bearish for Bitcoin and the entire crypto market. The 100 DMA is crossing below the 200 DMA, MACD about to cross bearish , room to move downward on the RSI and Stoch RSI , and those three combined with the Williams %R look very similar to the crash of May 12, 2021. I've been saying for weeks we are in Phase D of distribution not Phase C of accumulation. Looks like we are about to enter Phase E of distribution.
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