BITCOIN Perspectives - Wyckoff Re-distribution

Ok so this may be the umpteenth re-distribution / accumulation you've seen by now and perhaps gritting your teeth at the sight of another, but having compared BTC with some re-distribution charts, it seems to fit best and perhaps more useful then EW counts - we'll see.

Essentially the formation seems to have 2 distinct areas with "ICE" the separation, where in this instance SOW pierces down from UT to form a lower low. The interesting part is that from herein the "supply trendline" should hold for a time as the downtrend resumes. Here this could be into a next capitulation.

d.stockcharts.com/im...7631954895112336.png

Not advice.

Yorum:

Price is drifting but as I said in the EW thread, the pertinent factors are lower highs lower lows and a tightening price band.

Anyhow price looking like it will drift then roll off the table à la BTC 2018 6K.

Yorum:

Back under the supply trendline. This seems to be a common theme to learn with crypto. Price really drifts then returns to form. Lets see if the trendline holds this time.