Bitcoin - Wyckoff distribution (double top). Possible correction to 58000 and more.
This is a continuation of my observations from May 2021. At the price of 59k, I applied the pattern from 2019 and set a consolidation level of 28-32k and then an increase to 58k + Will the comparison still work and you should be ready for a powerful correction? At the moment, we have bounced off the significant level of the trend line on the logarithmic chart....
A double peak scenario is likely. It seems that the ETF news is a stretch, and the increases depend on it. We closed the CME gap at 62k. Falling volume indicates some change in trend. The decrease in volume and the increase in price also suggest an irrational increase in the current price. We stop at 30k, there is a CME gap at 32k. Then we should see the area...
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