Wyckoff distribution event
After failled attempt to break down form support (26 700), Btc is testing highs, again. In case we will fail breaking the resistance to the upside there is potential for distribution event. Also the RSI showing us bearish divergence on many timeframes. On the other hand we are in strong uptrend for last monthes and there is possibility for testing the 30k level. So setup your SL on top of the potential SFP. Be patient and wait for Swing failure pattern.
Good luck.
Good luck.
Note
Patterns to know:SFP : tradingview.com/scripts/sfp/
Distribution: school.stockcharts.com/doku.php?id=market_analysis:the_wyckoff_method
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0,618 perfect entry point
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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.