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....
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...
Bitcoin cup formed with a double bottom. No handle. Broke above resistance line. Could go into an upwards trend channel and turn the market bullish, again!
Everything's looking bearish for Bitcoin on the Daily, MACD looking bearish, plenty of room to the downside on the Stoch RSI, and the moving averages are on the verge of a death cross. Pretty sure the price is going down, but will it bounce on the resistance trend line around $32500 or will it continue dumping? My strategy: Buy on the way down at 10%...