Bitcoin – Another Wycoff Redistribution?
Looking at the structure of the current chart, the pronounced price divergence and convincing rejection at $51k, and it looks as though there could be another Wyckoff redistribution in process and a brief correction towards $43k might be likely.
What do you think? Will it drop to $43k before lift-off?
What do you think? Will it drop to $43k before lift-off?
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The question is whether this bearish engulfing bar is indicative of further consolidation toward the $43k level, or whether price will rally strongly from here. A big chance that the Wyckoff manipulators would seek to rattle the loose hands as much as possible. So I would not be surprised by another day or two of nerve racking correction to encourage everyone to sell who doubts the rally to come.