Bitcoin accumulation or distribution? update 19.07.23
Updated
Hello guys
I think that many people over the last month technically see the Wyckoff distribution, I am not an exception and indeed it looks very similar, but we are now in an ascending channel
The monthly range is 29500-31500, and this distribution could be a trivial liquidity achievement from below. And then a return to the rising channel.
But if we want to see more extravagant liquidity withdrawal, we need to break the ascending channel, and the ideal point of frustration for market participants is to break this channel down and lock below it.
In any case, after a one-month stretch, you will see volatility very soon
On the other hand on larger timeframes we can interpret this whole 9 months has been an accumulation of wyckow and we are in the final stage of accumulation if this is true and I believe it is, then there are two scenarios that I want to share
On the other hand on larger timeframes we can interpret this whole 9 months has been an accumulation of wyckow and we are in the final stage of accumulation if this is true and I believe it is, then there are two scenarios that I want to share
1. Looks just like in the book
And if you add up the theory that the tuning distribution should be on the big crowd excitement, due to expectations about Bitcoin ETF, FTX, I wrote in this post Link
It all looks logical,taking additional liquidity from below to break through the main liquidity above 32k after 9 months of accumulation.
As for me, I accumulated in November-December 2022 and distributed already. I think you are seeing a lot of reports that a very large amount of bitcoins are going into Coinbase, Gemini, and others and as you correctly realize they will not give them to steaking haha they will sell them.
The same situation with ETH I think you can see how thousands of ETH have started to move and some part of it is going to centralized exchanges.
Best regards EXCAVO
I think that many people over the last month technically see the Wyckoff distribution, I am not an exception and indeed it looks very similar, but we are now in an ascending channel
The monthly range is 29500-31500, and this distribution could be a trivial liquidity achievement from below. And then a return to the rising channel.
But if we want to see more extravagant liquidity withdrawal, we need to break the ascending channel, and the ideal point of frustration for market participants is to break this channel down and lock below it.
In any case, after a one-month stretch, you will see volatility very soon
On the other hand on larger timeframes we can interpret this whole 9 months has been an accumulation of wyckow and we are in the final stage of accumulation if this is true and I believe it is, then there are two scenarios that I want to share
On the other hand on larger timeframes we can interpret this whole 9 months has been an accumulation of wyckow and we are in the final stage of accumulation if this is true and I believe it is, then there are two scenarios that I want to share
1. Looks just like in the book
And if you add up the theory that the tuning distribution should be on the big crowd excitement, due to expectations about Bitcoin ETF, FTX, I wrote in this post Link
It all looks logical,taking additional liquidity from below to break through the main liquidity above 32k after 9 months of accumulation.
As for me, I accumulated in November-December 2022 and distributed already. I think you are seeing a lot of reports that a very large amount of bitcoins are going into Coinbase, Gemini, and others and as you correctly realize they will not give them to steaking haha they will sell them.
The same situation with ETH I think you can see how thousands of ETH have started to move and some part of it is going to centralized exchanges.
Best regards EXCAVO
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