Wyckoff Model predicts Bitcoin Top.*2

in bitcoin •  3 months ago 

It is only with respect to the short to intermediate term price action ahead. This means, days and weeks and not months or years. That said, the trend barring any structural break under the current accumulation high of around 4000 flat as well as the major moving averages on the weekly and higher time frames, remains in a fully bullish posture and this post is to indicate a short term top.

As you can see from the Wyckoff framework diagram, a top is divided up into four distinct phases. I shall outline them below.

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