Wyckoff`s distribution schematic
A perfect example of Wyckoff`s distribution schematic, which indicates a potential double bottom for bitcoin .
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PSY : preliminary supply.
BC : buying climax.
ST : secondary test.
SOW : sign of weakness.
LPSY : last point of supply.
UTAD : upthrust after distribution.
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Therefore I believe that there is no reason to be bullish about Bitcoin in the immediate short-term.
Long-term!? of course, but for now not so much.
cheers
........................................................
PSY : preliminary supply.
BC : buying climax.
ST : secondary test.
SOW : sign of weakness.
LPSY : last point of supply.
UTAD : upthrust after distribution.
.....................................................
Therefore I believe that there is no reason to be bullish about Bitcoin in the immediate short-term.
Long-term!? of course, but for now not so much.
cheers
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