noble1ones

Bitcoin Wyckoff Distribution Phase Update + EW Update

Short
BITSTAMP:BTCUSD   Bitcoin

I'm still bearish but slightly changing my count to an EW ending diagonal with multiple UT's. Now awaiting ending diagonal triangle breach with a strong thrust to the downside.

Quote from Wyckoff Analytics dot com
"Aggressive traders may wish to initiate short positions after a UT or UTAD. The risk/reward ratio is often quite favorable. However, the “smart money” repeatedly stops out traders who initiate such short positions with one UT after another, so it is often safer to wait until Phase D and an LPSY."

Requote:
----------->“smart money” repeatedly stops out traders who initiate such short positions with 'one UT after another',<-----------

In my humble opinion...........
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