BTC Distribution Scenario

2 kwi

I'm considering a new scenario following the breakdown of price below supportive structure. It's a scenario pattern that's undoubtedly familiar - everyone's favorite, the Wyckoff distribution trend.

Several elements support this structure are worth noting:

- The distribution phase is occurring just above the previous all-time high (ATH).
- This potential top is showing a monthly bearish divergence vs 2021 ATH.

While the structure of these patterns never perfectly aligns with Wyckoff's illustrations, they often follow key stages marked by significant swings in price. This scenario presents swings of around 25%

The scenario assumes that we've entered Phase B, moving towards the Sign of Weakness (SOW) below initial support (target price would be 59K range mid-April) before a move to the Upthrust (UT).

Best, Hard Forky

2 kwi

Uwaga

Monthly - just a point of interest

3 kwi

Uwaga

bearflag forming

4 kwi

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4 kwi

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re-entry into the flag channel

5 kwi

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expecting move down

11 kwi

Uwaga

the channel held, likely pivot from distribution structure

15 kwi

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support touch

17 kwi

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SOW hit

21 kwi

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23 kwi

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pullback

24 kwi

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stage target hit

27 kwi

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1st target SWB:69K

3 maj

Uwaga

Updated Timelines :

20 maj

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29 maj

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Final leg up in Phase B -

4 cze

Uwaga

Upward Thrust -