$BTC 4hr - Re-distribution possible
BTCFollowing on from an earlier post, here is a closer up of the possible case for re-distribution.
We can see from this that if this is correct then we are most likely right in the middle of the downside and are almost definitely going to see more downside. This is obviously also possible given the amount of financial unrest we are seeing in other markets primarily because of the China situation.
If this is to be true, then the chances that we will adhere to Plan B's theory that we would be at $43500 at the end of September are slim in comparison to the possibilities of re-accumulation that we have suggested in our posts that explore this.
Strangely, the previous candles do appear to correspond to both the re-distribution and the re-accumulation theories so time will tell and probably pretty rapidly as this is playing out through the 4hr timeframe as opposed to the Wyckoff distribution phase that first took place that was staged through the longer daily timeframe.
Trade safely guys and make sure to stay aware of these two distinct possibilities!
PumpeyeTheTraderMan & Crypto Society
BiloCrypto
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