Published On: Mon, Oct 30th, 2017

Bitcoin Price Analysis: Signs of Divergence May Point to Potential Distribution Phase

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After bouncing back and forth from $5100 to $6100, BTC-USD managed to squeeze out one more (albeit short-lived) all-time high. This article is going to present an update to the last discussion regarding the potential Wyckoff Distribution and provide a more contextualized, macro-view of the current bitcoin market. Before reading any further, I would like to emphasize the word “potential” within the context of this discussion because until the market actually reverses, this is nothing more than a potential market set-up:Figure 1: BTC-USD, 1-HR Candles, Potential Wyckoff DistributionWhen we last discussed this potential distribution pattern, we hadn’t experienced …

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