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
註釋
Monthly - just a point of interest 註釋
bearflag forming 註釋
註釋
re-entry into the flag channel 註釋
expecting move down 註釋
the channel held, likely pivot from distribution structure 註釋
support touch 註釋
SOW hit 註釋
註釋
pullback 註釋
stage target hit 註釋
1st target $SWB:69K 註釋
Updated Timelines : 註釋
註釋
Final leg up in Phase B - 註釋
Upward Thrust - 
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