BTC: Potential Wyckoff Distribution Schematic #1 for COINBASE:BTCUSD by jalapablo

trendanalysis chartpattern waveanalysis containsimage

We have a potential Wyckoff distribution schematic playing out for BTC as it sits overbought atop a rising wedge countertrend. The volume spread analysis (VSA) seems to confirm this as overall supply has increased throughout the latter half of the range leading up to the UTAD. Whether or not we have arrived at the first of several LPSYs remains to be seen, but I think the patterns are fairly convincing! Good luck to everyone.

*Not financial advice.

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