After forming Wyckoff's distribution pattern, #bitcoin price lost the trend support and now likely to test the trendline resistance zone (formerly support). There' ll be 2 powerful technical analysis scenario:
1- This dump to 66 - 67K will be remembered just a deviation, CPI and inflation rate will be positive and #btc will reclaim the trendline. So, distribution pattern will be longed or even invalidated later. Reclaiming 69.3K will be very important.
2- #btcusdt will have a bearish retest, price declination will make the distribution pattern fully play out and #btcusdt discover a price deeper low.
Not financial advice. DYOR.
1- This dump to 66 - 67K will be remembered just a deviation, CPI and inflation rate will be positive and #btc will reclaim the trendline. So, distribution pattern will be longed or even invalidated later. Reclaiming 69.3K will be very important.
2- #btcusdt will have a bearish retest, price declination will make the distribution pattern fully play out and #btcusdt discover a price deeper low.
Not financial advice. DYOR.
