Bearish Bitcoin Distribution
The most simple of breakdowns. See my previous ideas for accompanying thoughts and bigger picture stuff. Bitcoin is ranging in a perfect channel. Wether it breaks to the upside of the channel or the downside should decide it’s short term future… Pulling up the accumulation/distribution graph we can see a bearish rising wedge forming. We’ve also had declining volume for months . Too many indications of a fall coming. If we visit the top of the channel again I’m going short with tight stops… but I do t think we will even get up there again. Long term Bitcoin bull… but it don’t always go up boys. Stay smart, stay sophisticated.
