ebe1992

Bitcoin in the last part of PHASE D of Wyckoff distribution

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
I'm still not convinced that Bitcoin out of the bear trend until we reach the level above 42K. It also appears to me that bitcoin is following exactly the distribution of Wyckoff chart. https://miro.medium.com/max/875/1*0AAL3Z...
When we compare the bitcoin price action with the chart, obviously we are in final part of phase D of the distribution.

Means after the BTC formed and confirmed 2 days ago the formation of the falling wedge in black dots, I expect BTC to rise to about 37k or little above to secure the bears whales to sell at the best price possible before the dump and to secure the best short price as possible.
The only possible way to confirm that Bitcoin is on the road for a reverse trend when BTC cross the resistance of 42K.
The very similarities happened in 2018 selloff when we formed a falling wedge after we have the death cross https://s3.tradingview.com/snapshots/d/d...
The distributions always happen in BEAR market verses the accumulations happen in BULL market witch many think that this what we have now... in my opinion it's wrong until we see BTC cross the 42K.
This is not an advice for trading, Please like if you agree even somewhat with my analysis. Thank you!
Comment: from 2018
Comment: Pump and Dump, retesting at least the 35k. Reports that Amazon will not be accepting Bitcoin
Comment: Funny and Sad how some leaves comments thinks they are funny but in fact making a bad influence on other people decisions. for those jockers, If you don't have a sense of responsibly to others get lost and out of my ideas comments completely.
Comment:
Comment: Still not convinced we have a reverse trend until we cross the 42k comfortably. Also because we have a very low volume and no insane news, We had a very manipulating and scam playout in my opinion. I expect to retest the 35k and than we will have another fake bounce all the way up to retest the 41k and the dump will begin after toward the 28k this time and in few weeks we shall see the touch down of the 20k or even lower.
It's safer to wait for an absolute reversal in trend.
Stay tuned, I'll be back!
Comment: https://s3.tradingview.com/snapshots/u/u...
Pullbacks is imminent right now StockRSI is overbought and stalls, the question is from what level the bonce happen 36k or 28k. I expect to bounce back from 36k now, just because still some room to rise on the daily RSI.
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Comments

what drugs do you use?
+12 Reply
bossballer41 patayicetea
@patayicetea, lmao I laughed way too hard at this 😂
+1 Reply
shnik patayicetea
@patayicetea, i think he is right! we will see 14k for sure next year!
+1 Reply
@shnik, we"ll never see bitcoin go below his previous ATH which is 19k
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ckbears90 patayicetea
@patayicetea, don't you take this out on drugs!
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We're finishing wave 4 of this cycle's bull run mate, if you are preparing for a massive drop like this now before we have had the blow off top you're really gonna be kicking yourself in the rear by the time we reach the end of the year.
+3 Reply
idk...historically it seems after starting a new macro bull run that we come back down to test close to the high of the last macro bull run but not quite all the way...i would agree with you that it's more likely to see some more downside but I don't think we will touch 2017-2018 runs peak...we never had a blow off top either...I'm ready either way. thanx for the info
+3 Reply
ckbears90 Sandermancity
@Sandermancity, people keep saying that but we did have a blow off top in 2013.
+1 Reply
nice chart, really expecting 12k?
+3 Reply
ebe1992 ali_1673
@ali_1673, thank you Ali
+1 Reply