Distribution might be going on in bitcoins

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
evidences supporting the conclusion provided in chart..
shortening of buying thrust after the june rally, quickly followed by large severe selling waves
and lack of follow through in the subsequent rallies and at the present position of the trading range
the inability to cross above the 20dma, shows weakness in the price action

unless the supply trendline is decisively taken out, price action on bullish expectation
is better taken with a pinch of salt
even then also, traders should be cautious of a upthrust formation at the level of the high made in june

support as mentioned at the 200 day wilder moveing average and the zone of previous reaccumulation
should be considered - 8000-7500

happy trading guys!

Disclaimer.... not an investing/trading recommendation
Sep 21
Comment: based on weiss waves

Oct 01
Comment: now that were are in mark down... time to calculate the point and figure chart...

expect a series of pauses and redistribution throughout the trend...
when will we see this thrust downward?
capsule91 Msparky
@Msparky, i believe we are already in the process
funnyfaltus capsule91
@capsule91, Hello Bro, please share your contact need to call you !!!
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