A Wyckoff Analysis of january 2018 Bitcoin "bubble"

In Wyckoff Analysis, four main phases occur during the trading cycle: accumulation, markup, distribution and markdown.
Accumulation phase is when smart money enters on a long position, when general public is not interested.
Markup phase is when parabolic movements start, driving media and public attentions, when entusiasm and FOMO make their victims.
Distribution phase is when smart money start exiting lasting only newbies' money. During distribution, bulls fail to stablish new highs,
a big correction may be seen, driving fear to the market, this correction is followed by a lower high. Usually where traders exit positions
and public think everything is back to normal, this is called bull trap.
The Markdown phase is when ansiety, fear and pain make general public close positions with huge losses.