BTC will retest the bear trendline?

31 Oca 2023

BTC had broken the major trendline of the bear market starting from November 2021, at the third time touching this one (see screenshot below).

This clear breakout (at the 3rd time) would have risen a question on when the retest would happen.

Using Wyckoff method for short-term period (2H TF), it seem that distribution is happening, possibly. You can find more detail in chart.

Let wait and see if this scenario will play out.

For mid-term, as in my previous analysis, I think that BTC is in accumulation phase to head $30000 (please see below link).

31 Oca 2023

Not

It seems to be a distribution as analyzed.

31 Oca 2023

Not

It seems also there's a manipulation

2 Şub 2023

Not

The considered scenario didn't happen. FED raising rate of 0.25% support bullish buy.
In my opinion, distribution continues. Here below is what I have in mind: