Wyckoff Distribution Setup, Spring Test Complete
LRC Looks like its set up and good to go, we already had the spring test and are now testing the last point of support of the next leg up, expect this to take a few days to fully play out.
As we can see the rapidly dropping demand through december and january led to an automatic rally where we tested a resistance level, and it was rejected, a backtest to the last point of support showed that we had become oversold, and demand started to increase.
We are now at the pivot point where demand will greatly exceed supply and the price will rise rapidly.
This is all of course, if BTC behaves.
As we can see the rapidly dropping demand through december and january led to an automatic rally where we tested a resistance level, and it was rejected, a backtest to the last point of support showed that we had become oversold, and demand started to increase.
We are now at the pivot point where demand will greatly exceed supply and the price will rise rapidly.
This is all of course, if BTC behaves.
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