Bitcoin is approaching stage 4 of it's bullish journey!
CHART OVERVIEW
*BTC/USDT - DAILY CHART - BINANCE
I've used a pitchfan to mark out support and resistance lines; as well as cyclic lines to mark out the different stages in what you could call an institutional accumulation or a Wyckoff Accumulation. I'll detail here what I expect in each stage. Of course I could be way off target so please do your own research.
Stage 1
DUMP AND ACCUMULATE - The value of Bitcoin is firmly established; Smart Money (SM) instigates massive FUD, strategic trading and enormous selling pressure to dump the price and then begins mopping up the cheap bitcoins.
Stage 2
RELEASE PRESSURE & INCREASE DEMAND - SM tests when is the right time to release the selling pressure and encourage the bulls to push the price up, the right time is when SM believe they have gained the maximum amount of bitcoin for the cheap prices on offer.
Stage 3
MINI SECOND DUMP AND ACCUMULATE - Exactly the same as Stage 1 but less intense and shorter in duration. SM Re-accumulates to gain more bitcoin at a new cheap price, once they have maxed out, they move on to the next stage.
Stage 4
PARABOLIC PUMP - The same high intensity and massive price acceleration as stage 1 but in the opposite direction (Up). SM Releases all sell pressure and joins the bulls in pushing the price as high as possible.
What do you guys think?
SIDE NOTES
*The cyclic notes indicate when certain stages may begin or finish but it may not be exactly on that date but rather marking a transitioning point to the next stage.
*Each stage SM monitors with high precision, the timing when to enter and exit each stage depends on supply and demand (S/D) factors, ultimately they want to temporarily manipulate these factors to buy discounts but manipulating the price for too long can potentially cause excess damage to S/D, causing significant loss of confidence and adverse price behaviour. The SM need to balance this skillfully and they do just that from centuries of practice .
*Disclaimer: NOT PROFESSIONAL ADVICE.
*BTC/USDT - DAILY CHART - BINANCE
I've used a pitchfan to mark out support and resistance lines; as well as cyclic lines to mark out the different stages in what you could call an institutional accumulation or a Wyckoff Accumulation. I'll detail here what I expect in each stage. Of course I could be way off target so please do your own research.
Stage 1
DUMP AND ACCUMULATE - The value of Bitcoin is firmly established; Smart Money (SM) instigates massive FUD, strategic trading and enormous selling pressure to dump the price and then begins mopping up the cheap bitcoins.
Stage 2
RELEASE PRESSURE & INCREASE DEMAND - SM tests when is the right time to release the selling pressure and encourage the bulls to push the price up, the right time is when SM believe they have gained the maximum amount of bitcoin for the cheap prices on offer.
Stage 3
MINI SECOND DUMP AND ACCUMULATE - Exactly the same as Stage 1 but less intense and shorter in duration. SM Re-accumulates to gain more bitcoin at a new cheap price, once they have maxed out, they move on to the next stage.
Stage 4
PARABOLIC PUMP - The same high intensity and massive price acceleration as stage 1 but in the opposite direction (Up). SM Releases all sell pressure and joins the bulls in pushing the price as high as possible.
What do you guys think?
SIDE NOTES
*The cyclic notes indicate when certain stages may begin or finish but it may not be exactly on that date but rather marking a transitioning point to the next stage.
*Each stage SM monitors with high precision, the timing when to enter and exit each stage depends on supply and demand (S/D) factors, ultimately they want to temporarily manipulate these factors to buy discounts but manipulating the price for too long can potentially cause excess damage to S/D, causing significant loss of confidence and adverse price behaviour. The SM need to balance this skillfully and they do just that from centuries of practice .
*Disclaimer: NOT PROFESSIONAL ADVICE.
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.