Please tell me this is not #Wycoff distribution for $BTC.

I certainly hope that a potential #Bitcoin  ETF is bullish, but it can also be a sell-the-news event on #BTC

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Wyckoff’s schematics are primarily applied to longer timeframes due to the extended amount of time required for the distribution/accumulation processes to mature. This means distribution cannot be inferred from looking at short timeframes such as 1H-4H. I had this argument on numerous occasions with folks using this method on short timeframes, some even draw conclusions based on 15M.

Love it. Thank you for the clarification. Always learning.