Ok so this may be the umpteenth re-distribution / accumulation you've seen by now and perhaps gritting your teeth at the sight of another, but having compared BTC with some re-distribution charts, it seems to fit best and perhaps more useful then EW counts - we'll see.
Essentially the formation seems to have 2 distinct areas with "ICE" the separation, where in this instance SOW pierces down from UT to form a lower low. The interesting part is that from herein the "supply trendline" should hold for a time as the downtrend resumes. Here this could be into a next capitulation.
d.stockcharts.com/im...7631954895112336.png
Not advice.
Essentially the formation seems to have 2 distinct areas with "ICE" the separation, where in this instance SOW pierces down from UT to form a lower low. The interesting part is that from herein the "supply trendline" should hold for a time as the downtrend resumes. Here this could be into a next capitulation.
d.stockcharts.com/im...7631954895112336.png
Not advice.
Comment:
Back under the supply trendline. This seems to be a common theme to learn with crypto. Price really drifts then returns to form. Lets see if the trendline holds this time.
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Anyhow price looking like it will drift then roll off the table à la BTC 2018 6K.