jalapablo

BTC Potential Distribution

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jalapablo Updated   
INDEX:BTCUSD   Bitcoin
BTC has a potential Wyckoff schematic distribution (#1) playing out on a smaller 45-minute fractal. Volume metrics support the impending markdown with increased selling power (supply) throughout the general duration of the range. This makes sense. On higher time-frames -- daily and above -- we are clearly topping off within an ascending wedge. BTC however is notorious for bucking the trend and faking everyone out at the last minute. Hence, the preface of a "potential" outcome with any crypto chart, especially the ones pertaining to Bitcoin.

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