Bitcoin going according to plan!
Hi Guys
Please check out my previous idea about the potential path Bitcoin is heading, in that idea I've outlined as many others have that this is a Wyckoff Accumulation / Reaccumulation (WAR).
In this idea I want to recap exactly why this is happening and what you can expect.
Why is Bitcoin heading down?
First off Bitcoin can change direction within a moments time but if it continues here's why; Bitcoin is being pressed down in order to complete exhaust supply from panic sellers, this supply gets absorbed by the large operators resulting in retail investors unwittingly handing over their highly valuable asset (in this case Bitcoin) to the Institutional Investors.
In my last idea I noted the volume was still high in the last dump to $28,805, this suggests to the Institutional Investors that their still could be panic sellers out their to absorb from; like a greedy eater, not only do they eat every crumb from their plate, they also lick the plate clean, this is the final phase of the WAR, to asses the plate and consume every last scrap remaining.
Low volume on the final dump confirms that the panic sellers are facing extinction, at this point the green light is shown and the advance out of this price pit commences.
If this proceeds in this way we can expect the price to revisit 29k, if not very briefly touching below 30k, this will capture the panic sellers and confirm maximum absorption is achieved.
Conclussion
From a Bull's perspective it's never good to see the price fall, however if this is a planned pattern then we can actually preempt and expect it. IMO this is an incredible opportunity to accumulate and if not possible Hodl knowing this is a massive Bear Trap and great things are just around the corner.
What do you guys think, would love to hear your thoughts?
*Disclaimer, this is not financial advice, please do not invest your money based on my opinion, thank you.
Please check out my previous idea about the potential path Bitcoin is heading, in that idea I've outlined as many others have that this is a Wyckoff Accumulation / Reaccumulation (WAR).
In this idea I want to recap exactly why this is happening and what you can expect.
Why is Bitcoin heading down?
First off Bitcoin can change direction within a moments time but if it continues here's why; Bitcoin is being pressed down in order to complete exhaust supply from panic sellers, this supply gets absorbed by the large operators resulting in retail investors unwittingly handing over their highly valuable asset (in this case Bitcoin) to the Institutional Investors.
In my last idea I noted the volume was still high in the last dump to $28,805, this suggests to the Institutional Investors that their still could be panic sellers out their to absorb from; like a greedy eater, not only do they eat every crumb from their plate, they also lick the plate clean, this is the final phase of the WAR, to asses the plate and consume every last scrap remaining.
Low volume on the final dump confirms that the panic sellers are facing extinction, at this point the green light is shown and the advance out of this price pit commences.
If this proceeds in this way we can expect the price to revisit 29k, if not very briefly touching below 30k, this will capture the panic sellers and confirm maximum absorption is achieved.
Conclussion
From a Bull's perspective it's never good to see the price fall, however if this is a planned pattern then we can actually preempt and expect it. IMO this is an incredible opportunity to accumulate and if not possible Hodl knowing this is a massive Bear Trap and great things are just around the corner.
What do you guys think, would love to hear your thoughts?
*Disclaimer, this is not financial advice, please do not invest your money based on my opinion, thank you.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.