BTC: Sellers are getting stronger

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

MJShahsavar

This analysis is based on the composite man theory of Wyckoff. In the following idea, I explained the principles of this analysis.

Combining wyckoff's theory with ONCHAIN data

This analysis shows: The number of buyers compared to sellers (despite the constant volume of transactions) is increasing. This means that salespeople are getting stronger (composite men are on the sales side)
If continued, this could lead to lower prices, indicating that we are probably in a redistribution area.

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