Beware: Bitcoin Price Action Mimics Market Maker Model
The support level could just be a quick pitstop before the selloff continues, according to the recent price action resembling the "market maker profile sell model." Bitcoin Market Maker Sell Model: Wyckoff Distribution By Another Name
When an asset falls to attractive prices, it is accumulated by smart money investors who take a positon ahead of a large price increase.
BTCUSD Daily Line Chart Market Maker Sell Model Example Zoomed In | Source: TradingView
Does The Crypto Market Mimicking This Structure Suggest New Lows Are Next? BTCUSD Daily Line Chart Market Maker Sell Model Example Zoomed Out | Source: TradingView
In the market maker sell model, it predicts a deeper drop than what Bitcoin experienced on Black Thursday, potentially back to support where the asset broke out from its bear market bottom for yet another retest.
