Bitcoin in Wyckoff Distribution 😱 Short

Bitcoin / U.S. dollarBitstamp

Description

⋅ Apr 8, 2023 1:23 AM

Bitcoin in a Wyckoff Distribution for the last 16 days

Supply may begin to dominate

🔴 Short-term pullback coming into the weekend.
🔴 On Balance Volume confirms weakness
⭐ Macro bull market, I would buy the dip!

Trade closed: stop reached

⋅ Apr 9, 2023 9:56 PM

🚨 Trade is invalidated.
⭐ Price moved above previous Last Point of Supply.
⭐ On Balance Volume seeks to regain uptrend!

Comment

⋅ Apr 9, 2023 10:01 PM

Comment

⋅ Apr 10, 2023 5:55 PM

🚨 In case anyone missed it, trade was closed yesterday.
Wyckoff Distribution was invalidated by price and bullish volume!

Comments

TradingShot

⋅ Apr 8, 2023 6:44 AM

We have similar bias, let's see how it plays out.

ChartCinema

⋅ Apr 8, 2023 3:55 PM

@TradingShot, For the weekend, my bias is bearish. But if price somehow just ranges sideways and doesn't drop all weekend, I may have to re-evaluate. 🤔

Darthstrukt

⋅ Apr 9, 2023 10:01 PM

@ChartCinema, Time to re-evaluate, lol

ChartCinema

⋅ Apr 10, 2023 5:05 PM

@Darthstrukt, Yup! Trade closed over the weekend. And I flipped bullish.

Darthstrukt

⋅ Apr 11, 2023 4:55 PM

@ChartCinema, Good call!

averkie_skila

⋅ Apr 10, 2023 6:34 PM

UTAD now.

SwallowPremium

⋅ Apr 8, 2023 8:08 PM

Excellent charting!

ChartCinema

⋅ Apr 9, 2023 2:19 AM

@SwallowPremium, Thank you!

nattakit-ngnarungrueang

⋅ Apr 8, 2023 2:44 AM

😲😲😲

ChartCinema

⋅ Apr 8, 2023 3:53 PM

@nattakit-ngnarungrueang, 🙀