Is BTC in distribution? Short

Bitcoin / DollarBitfinex

Description

⋅ May 8, 2018 9:48 AM

Here's an idea I've been following for a while now on twitter (twitter.com/gonebroke_/status/993560984269873152). What if we're in Wykoffs distribution and markup is next?

The distribution schematic I'm working from is this - d.stockcharts.com/school/data/media/chart_school/market_analysis/wyckoff3/wyckoffdistribution1.png

I'm looking forward to options and views on this.

FYI. I'm SHORT from $9860.

Comment

⋅ May 9, 2018 11:13 AM

I think I was a little premature with my original call for the LPSY top and think that this is more likely

Comment

⋅ May 13, 2018 2:21 PM

Here's an update for you. We were not lucky enough to have another LPSY... and SOW lastest about 20mins. I think we're now witnessing the throwback to the trading range. I'm expecting re-distribution from $7-7800. Short still open.