BTC/USD - Distribution or reaccumulation?Dears,
Classical accumulation and distribution phases on the market are often mixed together. Especially when bears do not end their supply when new bulls come in, not waiting up to the end of the supply. This phases, when in bulltrend bears start to supply and new bulls come in very quickly are called reaccumulation.
However, to recognizing the distribution and reaccumulation sometimes is very difficult. In half of the reaccumulation pattarns there is a strong difference: higher lows, however, in the other half of the patterns there is a lower low reacting like a spring for the price (and is also called a 'spring').
The one difference between all the accumulation and distribution patterns is, however, that the last point of supply (LPSY) is much higher that classical distribution pattern predict - is similar to last ponit of support (LPS).
We cannot predict the future. If bears would be stronger than bulls, than would be one more selloff (classical LPSY). If bulls would be stronger, than that would be classical reaccumulation. We will find out what will happen...
BTW, Please, observe the S&P500... If there would be a massive selloff at wider market, many inverstors and traders would realize profits from Bitcoin to either buy stocks opportunities or cover costs of levereages (incl. deposits refill)... or both... ;-)
I still hope this is only a reaccumulation and within one week we will go upside. Please, remember, in May Wallmart plans to go in Bitcoin (officially: for cash thansfers). As you could see, Bitcoin become so expensive in appropriate manner to ecourage the "bigger wallets" to go into without some repercusions of buying to cheap assets (overbought symptoms like liquidity problems and to high price movements).
