Final Phases of Wyckoff Appear to be Underway on Bitcoin

BTC/USD COINBASE:BTCUSD

coinzada

I originally posted this concept up in late 2021 across various social media networks but decided to get back to publishing ideas on TradingView.

Essentially I believe Bitcoin is undergoing true distribution after its most recent bull market.

I believe we will see one last pump to retest the previous areas of supply at 36-40k (The 19 week MA is a line in the sand I’ll be watching with interest) before we ultimately enter the final mark down stage of the market cycle.

I believe this mark down phase will take Bitcoin back to <$12k.

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