Bitcoin / TetherUSAggiornato BTC Distribution Scenario
I'm considering a new scenario following the breakdown of price below supportive structure. It's a scenario pattern that's undoubtedly familiar - everyone's favorite, the Wyckoff distribution trend.
Several elements support this structure are worth noting:
- The distribution phase is occurring just above the previous all-time high (ATH).
- This potential top is showing a monthly bearish divergence vs 2021 ATH.
While the structure of these patterns never perfectly aligns with Wyckoff's illustrations, they often follow key stages marked by significant swings in price. This scenario presents swings of around 25%
The scenario assumes that we've entered Phase B, moving towards the Sign of Weakness (SOW) below initial support (target price would be
59K range mid-April) before a move to the Upthrust (UT).
Best, Hard Forky
Several elements support this structure are worth noting:
- The distribution phase is occurring just above the previous all-time high (ATH).
- This potential top is showing a monthly bearish divergence vs 2021 ATH.
While the structure of these patterns never perfectly aligns with Wyckoff's illustrations, they often follow key stages marked by significant swings in price. This scenario presents swings of around 25%
The scenario assumes that we've entered Phase B, moving towards the Sign of Weakness (SOW) below initial support (target price would be
59K range mid-April) before a move to the Upthrust (UT).Best, Hard Forky
Nota
Monthly - just a point of interest Nota
bearflag forming Nota
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re-entry into the flag channel Nota
expecting move down Nota
the channel held, likely pivot from distribution structure Nota
support touch Nota
SOW hit Nota
Nota
pullback Nota
stage target hit Nota
1st target SWB:69K Nota
Updated Timelines : Nota
Nota
Final leg up in Phase B - Nota
Upward Thrust - 
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