Bitcoin – local redistribution!

Hello, everyone!

Last time we have been talking about the S&P500, that current bear market is not the true bear market – just a correction. I am waiting for the last leg down before the bullish trend. Today I found the very interesting formation which predicts this leg down.

Let’s take a look at the 1h timeframe of the BTCUSDT chart of the WhiteBit exchange. Here we can see the potential redistribution chart pattern. All Wyckoff events coincides with the textbook, but the main feature of the redistribution is the UTAD – fake breakout of the trading range. Now the LPSY is happening – the test of the higher band of the structure. If we will see the rejection form this level the scenario on the chart is actual.

Best regards, Ivan
Beyond Technical AnalysisBitcoin (Cryptocurrency)bitcoinforecastbitcoinusdBTCBTCUSDBTCUSDTSupply and DemandSupport and Resistance

Get access to private PineScript strategies and turn script alerts into orders at your exchange account with easy-to-set up bots

Get free alert bot:
skyrexio.com
Also on:

Related publications

Disclaimer