Bitcoin Shows Potential Wyckoff Distribution as Market Makers Rotate Toward Altcoins
Main Idea
Bitcoin is currently in a Wyckoff distribution phase, indicating short-term weakness, while altcoins show early signs of structural markup as market makers shift focus.
Key Points
1. Bitcoin's Wyckoff distribution phase includes key technical points like Preliminary Supply (PSY), Buying Climax (BC), and Signs of Weakness (SOW).
2. The Wyckoff method explains Bitcoin's market behavior through phases of institutional selling, retail-driven peaks, and weakening momentum before a potential decline.
3. Altcoins are gaining momentum with increased smart money inflows, signaling potential price markup.
4. Market maker rotation suggests a shift in focus from Bitcoin to altcoins, impacting crypto market dynamics.
5. Investors should be cautious of mainstream Bitcoin narratives and focus on disciplined analysis during this phase.
Description
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