It appears that BTC will soon be entering Phase E of the Wyckoff distribution schematic. According to this theory the price will drop to the 30k mark.
It is an interesting theory that seems to match up perfectly with the BTC chart and explains the reasons behind recent price action. Phase D is considered a great time to place a short as phase E will maintain the downward trend.
It is an interesting theory that seems to match up perfectly with the BTC chart and explains the reasons behind recent price action. Phase D is considered a great time to place a short as phase E will maintain the downward trend.
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Just a quick update...
While the price action veered off slightly from the schematic the price target hit perfect.
While the price action veered off slightly from the schematic the price target hit perfect.