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Riester
Oct 20, 2020 5:29 AM

BTC Wyckoff Distribution Roadmap Short

BITSTAMP:BTCUSD240
Bitcoin / U.S. dollarBitstamp

Description

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NEXT STAGES:
1. Sign of Weakness @ 11100, range low support
2. Upthrust After Distribution @ 11900, H&S distribution resistance. Also parallel ascending channel TL resistance
3. Distribution, LPS, and Major Sign of Weakness at key S/R of 10750

Textbook Wyckoff Distribution so far. Check out this link to a schematic:
google.com/search?q=wyckoff+distribution&tbm=isch&source=iu&ictx=1&fir=546YKOr6hXARLM%2CrUb6T4bfVB6EyM%2C_&vet=1&usg=AI4_-kSGdW036KhLj1R-in6BX-ykjT_S2Q&sa=X&ved=2ahUKEwjY0uaDj8LsAhVKCM0KHYXYB-YQ9QF6BAgKEFY&biw=1440&bih=792

Chart would form a broadening wedge as it evolves and the HTF RSI bearish divergence on the 12H/D would get to play out in time.
Parallel ChannelSupply and DemandBitcoin (Cryptocurrency)halving2020wyckoffdistribution
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