Sharing this as a cautionary tale looking at the larger perspective on the BTC 12h. It appears to have printed the first ticks in the Wyckoff distribution pattern. It would take several weeks for this to play out, but remains a signal be be careful.
Interesting to note that ETH and LTC did not print this pattern as they did not get HH after the last major consolidation. Perhaps we could see again what we saw in 2017 with major ETH and LTC runs following BTC's decline.
Something I will be keeping an eye on over the next couple of weeks.
Interesting to note that ETH and LTC did not print this pattern as they did not get HH after the last major consolidation. Perhaps we could see again what we saw in 2017 with major ETH and LTC runs following BTC's decline.
Something I will be keeping an eye on over the next couple of weeks.