I believe Bitcoin BTC is in Wyckoff Distribution Phase B heading for Upthrust After Distribution (New ATH) Sweeping $124,500 price.
For me, that would be the BLOW-OFF TOP and the end of this cycles.
For this scenario to play out, after taking liquidity above the current ATH, it needs to start reversing and dropping.
If it closes above the current ATH, then this idea would be invalidated.
There are other factors which would confirm this idea but I am not gonna share it publicly.
Good luck and Happy Trading...
For me, that would be the BLOW-OFF TOP and the end of this cycles.
For this scenario to play out, after taking liquidity above the current ATH, it needs to start reversing and dropping.
If it closes above the current ATH, then this idea would be invalidated.
There are other factors which would confirm this idea but I am not gonna share it publicly.
Good luck and Happy Trading...
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.