The nature of the market is undeniable. And after some real market progress, prices are bound to enter a distribution phase and then eventually a correction.
Legend: PSY= Preliminary supply / BC= Buying Climax / AR= Automatic reaction / ST= Secondary Test / SOW= Sign Of Weakness / UT= Upthrust / LPS= Last Point of Supply
If you want to Learn more about the Wyckoff Method and the psychology behind the different phase go to: https://school.stockcharts.com/doku.php?...
As time goes by, I will keep you updated on the evolution of the asset price, so make sure to follow me on Tradingview
If you have any questions or requests, fell free to ask.
Disclaimer: This is not financial advice as I’m not a financial adviser.
This is just my knowledge on what can be said and done from the chart.
Due to the volatile nature of the market, everything can change on a day to day basis.
Everyone is wise to manage their risk properly when considering any trading decision or activities.
Bitcoin has a lose sense of humor that I'm not getting.
I'm holding on to my short idea.
BTC is only going up lately so I have to close my trade.
the establishment of new daily highs invalidate my bearish biais.
Even if the BTC go down I would prefer wait for a new pattern and a new setup before entering a short trade.