BTC - Month of June

May 28, 2023

Here is a Wyckoff distribution pattern I am seeing and suggest two potential paths before the eventual downturn:

Path 1 - No HH but a weak LPSY
Path 2 - HH to hit .5 fib

More inclined to Path 1 considering the range is tilted downwards and also the leeway in momentum divergences.

May 28, 2023

Note

Also if its a new HH, i would think this will evolve into a much bigger TR, but considering where we are in the cycle and wave that's not likely. So, bias is for a weak LPSY to ~28/29k or <30k

Jun 5, 2023

Note

Tick-tock

Jun 6, 2023

Note

Jun 7, 2023

Note

Jun 8, 2023

Note

Generally, if the price lingers at channel support like this, will eventually breakdown, failed recapture.