Sadly, BTC never dipped as far as I was hoping; instead it ran up.
No worries there, no lost money. Simply reevaluate given the new conditions.
It's finished with the $30-31K level. This is a long phase Wyckoff DISTRIBUTION. Distributions mean one thing **DOWN**.
We are at what Wyckoff call UTAD - upthrust after distribution.
Expect price to hit mid- to high-$30Ks and then either (1) spike to $32K-$32.5K followed by a precipitous drop - or - (2) plow through to $28K and breifly bounce there before going lower.
I'm partial to scenario 1.
Regardless, this ain't going to create new higher-highs. It's headed to new lows.
I'm out until at least $28K territory; maybe $26K
No worries there, no lost money. Simply reevaluate given the new conditions.
It's finished with the $30-31K level. This is a long phase Wyckoff DISTRIBUTION. Distributions mean one thing **DOWN**.
We are at what Wyckoff call UTAD - upthrust after distribution.
Expect price to hit mid- to high-$30Ks and then either (1) spike to $32K-$32.5K followed by a precipitous drop - or - (2) plow through to $28K and breifly bounce there before going lower.
I'm partial to scenario 1.
Regardless, this ain't going to create new higher-highs. It's headed to new lows.
I'm out until at least $28K territory; maybe $26K