Bitcoin / BTC / BTCUSD Wyckoff Analysis - Big moves incoming
Updated
In this chart, we can see a sideways action occuring after the end of a markup bull run.
The funding is high, and because there is side action, it is very likely that there will be a big dump after the higher highs are created.
The higher highs are just part of the wyckoff price action period. They tend to drop back down shortly.
IMO Then there will be a bear run, small recovery, then big dump to 13k.
The range of this distro is 17k-20k
above 20k is higher high - it wont last long
the fib 21k level may be the highest high reached. 20k will show huge difficulty however.
New liquidity and strength needs to be brought into the market to be able to sustain above 20k prices.
We need a bear run.
The funding is high, and because there is side action, it is very likely that there will be a big dump after the higher highs are created.
The higher highs are just part of the wyckoff price action period. They tend to drop back down shortly.
IMO Then there will be a bear run, small recovery, then big dump to 13k.
The range of this distro is 17k-20k
above 20k is higher high - it wont last long
the fib 21k level may be the highest high reached. 20k will show huge difficulty however.
New liquidity and strength needs to be brought into the market to be able to sustain above 20k prices.
We need a bear run.
Note
please dont take the side action as any defined entries or exits. If i wanted to enter here, i would enter short when higher highs are found.Note
21k is a very high estimate for high tap- but i know a higher high would be above 20k.Trade closed: target reached
Might still try to reach 21k but it looks like 20.8k is a resistance.Prediction was incredible timing and accuracy ;D
Price will drop back below 20k soon. wait for a few wicks on top for signs of weakness. Typically it moves in a slow downtrend then drops down alot.
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