Updated Wyckoff Distribution Pattern from last years chart.
I think this week in crypto it will punch down to the SOW - Sign of Weakness.
The weakness is likely to be a result of all the financial sanctions against Russia and their exclusion from SWIFT.
Over the weekend there was turmoil over the situation in Ukraine.
Russia didn't open their markets for fears it would crash.
As asset managers try to reduce exposure to the increasing Russian sanctions, I think there will be some liquidations that will punch through this 2 year regression trend and punch out a new low support for crypto.
next 24-48 hours will be key as markets digest the Russia/Ukraine situation.
I think this week in crypto it will punch down to the SOW - Sign of Weakness.
The weakness is likely to be a result of all the financial sanctions against Russia and their exclusion from SWIFT.
Over the weekend there was turmoil over the situation in Ukraine.
Russia didn't open their markets for fears it would crash.
As asset managers try to reduce exposure to the increasing Russian sanctions, I think there will be some liquidations that will punch through this 2 year regression trend and punch out a new low support for crypto.
next 24-48 hours will be key as markets digest the Russia/Ukraine situation.
