Technical analysis by hardforky about Symbol BTC: Sell recommendation (11/6/2024)

hardforky

At last, we've reached the Upthrust (UT) in the Wyckoff distribution phase. The short entry target is set at 80k, exit at 57k (approx 30%), with expectations of turbulent price movements for at east a week.In reflection of previous timings, I was 2 months out on timing (expected in September) but this is a 2 year process so I expect adjustments along the way.Phase B. During this phase, institutions accumulate shares at lower prices, preparing for an eventual markup. This process can take a year or more, involving both buying shares and short sales to control price increases. Phase B often includes multiple secondary tests (STs) and upthrusts near the top of the trading range (TR). Overall, major players aim to acquire as much of the available supply as possible.End-to-end, the whole distribution phase should last at least another 10 months until Stage E.Best, Hard ForkyInitial target reached. Awaiting entry.That should be the end of the extension - Initial Entry