Bitcoin / TetherUSUpdated Wyckoff Distribution on BTC
Bİtcoin making wyckoff distribution formation. You can see the process in the chart. I think we are nearing the end of "Phase C" now. Then there is "Phase D". Of course you know the meaning of this stage.
Note
According to the trend in the previous chart, I thought that the formation was shaped in the framework of schematic 2, since the UTAD area has not been realized yet. But today we see that BTC has reached the UTAD area today. The layout of the table is as in the image.
Meanwhile, daily closes above 58,000k will disable this pattern.
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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.