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Wyckoff distribution - Bitcoin Target: 37500$
It seems like the Wyckoff distribution is playing out again in Bitcoin charts.
There is a confluence between the Wyckoff distribution and descending triangle pattern which gives a target of ~37500$ price within a week after which a trend reversal can be expected.
The first Wyckoff distribution happened between the start of this year and ~20th July and Line1 denotes the Support for that distribution
The one playing out currently started a week after the first one got over and is a smaller one as compared to the first one with Line2 as support.
There is a confluence between the Wyckoff distribution and descending triangle pattern which gives a target of ~37500$ price within a week after which a trend reversal can be expected.
The first Wyckoff distribution happened between the start of this year and ~20th July and Line1 denotes the Support for that distribution
The one playing out currently started a week after the first one got over and is a smaller one as compared to the first one with Line2 as support.
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