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$BTC
1/3 I hate to say it but the more I look at it #bitcoin
looks like it's in distribution. I've never been comfortable sharing a Wyckoff theory chart until now after more study bc most never have volume profiles. I am not in a leveraged short. My trigger would be losing 9310
1/3 I hate to say it but the more I look at it #bitcoin
looks like it's in distribution. I've never been comfortable sharing a Wyckoff theory chart until now after more study bc most never have volume profiles. I am not in a leveraged short. My trigger would be losing 9310
BTC was trending up eventually price stalled where we have entered a period of ranging for the last 40 days. Each time price comes to the range highs we see strong and immediate selling pressure with lower volume rises that follow. When we broke the range we shouldn't have come
back inside it. I would love for BTC to rally higher but I have to trade what I see. Close weekly above 10.5k and I will long my longs. Lose 9310 and I think it sinks to the first gray box. Potentially the 2nd. For now I will wait for the market to reveal the true direction
Bonus 4/3 lol. If BTC grinds down slowly. We probably get that #alt season we have been waiting for. If BTC breaks 10.5k alts most likely get rekt. So it's not entirely a negative
$BTC showing more signs of distribution. It clearly is not trending. Bounces are for shorting. Will look for one around 9.6k area if given. *IF* this breaks down it could be rapid due to the length of distribution and it may not give optimal short entries in that instance
$BTC
This continues to be the main picture I operate under for now outside of my scalp trades. This is currently the macro view for me. I've found it best to sell off in the range highs (can buy back above w/invalidation) optimal entry 3 year DTL
This continues to be the main picture I operate under for now outside of my scalp trades. This is currently the macro view for me. I've found it best to sell off in the range highs (can buy back above w/invalidation) optimal entry 3 year DTL
$BTC
I think any doubt should be erased at this point after yesterdays deviation and coming back into the range. Structure broken, another high volume sell off from the range highs. High sell volume at range highs repeatedly. 100% distribution
I think any doubt should be erased at this point after yesterdays deviation and coming back into the range. Structure broken, another high volume sell off from the range highs. High sell volume at range highs repeatedly. 100% distribution
$BTC
Todays trading plan was to short 9550 if given and we got it. Distribution appears to continue once again showing that the highest volume continues from the top of the range in the form of sell pressure. Watching for close below 9310
#Bitcoin
https://twitter.com/Pentosh1/status/1271346943298621440?s=20
Todays trading plan was to short 9550 if given and we got it. Distribution appears to continue once again showing that the highest volume continues from the top of the range in the form of sell pressure. Watching for close below 9310
#Bitcoin
https://twitter.com/Pentosh1/status/1271346943298621440?s=20
$BTC
Not a great look here for bulls at all. More signs of distribution continue to show. I do believe there will be one last test of 9.5-9.7k to trap more players. Slow bleed will let #alts run and continue, fast sell offs will take the entire market down
Not a great look here for bulls at all. More signs of distribution continue to show. I do believe there will be one last test of 9.5-9.7k to trap more players. Slow bleed will let #alts run and continue, fast sell offs will take the entire market down
$BTC
Distribution leading into markdown. Should see some acceleration here soon. I'll update this chart later with some targets to keep in mind. Remember, there will be bounces. Like R low. Invalidation 9.8k+ Pretty easy and clean thus far
Potential levels
7.8-8.1k
7.4
7163
6.8
Distribution leading into markdown. Should see some acceleration here soon. I'll update this chart later with some targets to keep in mind. Remember, there will be bounces. Like R low. Invalidation 9.8k+ Pretty easy and clean thus far
Potential levels
7.8-8.1k
7.4
7163
6.8
$BTC
LH on weaker volume. Watching for a close below the EQ now. That might have been the last test and short squeeze for now. I have a short in from 9.6k (wanted 9.8k as previously stated but didn't execute)
LH on weaker volume. Watching for a close below the EQ now. That might have been the last test and short squeeze for now. I have a short in from 9.6k (wanted 9.8k as previously stated but didn't execute)
