BITCOIN: Phase D of Wyckoff schematic with price target.
It appears that BTC will soon be entering Phase E of the Wyckoff distribution schematic. According to this theory the price will drop to the 30k mark.
It is an interesting theory that seems to match up perfectly with the BTC chart and explains the reasons behind recent price action. Phase D is considered a great time to place a short as phase E will maintain the downward trend.
It is an interesting theory that seems to match up perfectly with the BTC chart and explains the reasons behind recent price action. Phase D is considered a great time to place a short as phase E will maintain the downward trend.
Note
Note
Just a quick update... While the price action veered off slightly from the schematic the price target hit perfect.
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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.