BTC Distribution Scenario

2 апр.

I'm considering a new scenario following the breakdown of price below supportive structure. It's a scenario pattern that's undoubtedly familiar - everyone's favorite, the Wyckoff distribution trend.

Several elements support this structure are worth noting:

- The distribution phase is occurring just above the previous all-time high (ATH).
- This potential top is showing a monthly bearish divergence vs 2021 ATH.

While the structure of these patterns never perfectly aligns with Wyckoff's illustrations, they often follow key stages marked by significant swings in price. This scenario presents swings of around 25%

The scenario assumes that we've entered Phase B, moving towards the Sign of Weakness (SOW) below initial support (target price would be 59K range mid-April) before a move to the Upthrust (UT).

Best, Hard Forky

2 апр.

Заметка

Monthly - just a point of interest

3 апр.

Заметка

bearflag forming

4 апр.

Заметка

4 апр.

Заметка

re-entry into the flag channel

5 апр.

Заметка

expecting move down

11 апр.

Заметка

the channel held, likely pivot from distribution structure

15 апр.

Заметка

support touch

17 апр.

Заметка

SOW hit

21 апр.

Заметка

23 апр.

Заметка

pullback

24 апр.

Заметка

stage target hit

27 апр.

Заметка

1st target SWB:69K

3 мая

Заметка

Updated Timelines :

20 мая

Заметка

29 мая

Заметка

Final leg up in Phase B -

4 июн.

Заметка

Upward Thrust -