BTC's likely path moving forward
BTC strategy to look out for:
As we see on the left, we have the ATH (wave 5) as an ending wave diagonal (1.2.3.4.5) followed by an ABC and the start of the Wykoff accumulation (Yellow box). We then broke out of the accumulation and have competed 3 waves (last wave is the 1,2,3,4,5 in yellow on the right) also with bearish divergent ending wave diagonal similar to last time. The correction of wave 3 was the top of the previous Wykoff accumulation but also forming its own little wykoff accumulation pattern that we broke out of yesterday with a big green dildo. I believe that just like the top of the yellow Wykoff Acc channel was retested, the top of this newer smaller, blue Wykoff accumulation will also get tested and so I wont be surprised to see BTC drop to 44xxx price level before going back up to complete a large IHS pattern targeting 57-58K
From a phycological perspective, the magnitude of drop that happened from the ATH wont happen again as the euphoric leveraging that happened back then taught many people a hard lesson. The current market is more mature and less risk avert and tighter and more conservative stop losses are there to prevent the forced liquidity that results from liquidation and leads to a flash crash.
We at Crypto Society have been bullish since we dropped down to 28K and continue to be overall Bullish.
Feel free to ask if anything is unclear
Much luv❤️
As we see on the left, we have the ATH (wave 5) as an ending wave diagonal (1.2.3.4.5) followed by an ABC and the start of the Wykoff accumulation (Yellow box). We then broke out of the accumulation and have competed 3 waves (last wave is the 1,2,3,4,5 in yellow on the right) also with bearish divergent ending wave diagonal similar to last time. The correction of wave 3 was the top of the previous Wykoff accumulation but also forming its own little wykoff accumulation pattern that we broke out of yesterday with a big green dildo. I believe that just like the top of the yellow Wykoff Acc channel was retested, the top of this newer smaller, blue Wykoff accumulation will also get tested and so I wont be surprised to see BTC drop to 44xxx price level before going back up to complete a large IHS pattern targeting 57-58K
From a phycological perspective, the magnitude of drop that happened from the ATH wont happen again as the euphoric leveraging that happened back then taught many people a hard lesson. The current market is more mature and less risk avert and tighter and more conservative stop losses are there to prevent the forced liquidity that results from liquidation and leads to a flash crash.
We at Crypto Society have been bullish since we dropped down to 28K and continue to be overall Bullish.
Feel free to ask if anything is unclear
Much luv❤️
BiloCrypto
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