A perfect example of Wyckoff`s distribution schematic, which indicates a potential double bottom for bitcoin .
........................................................
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
........................................................
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