It's following the idea posted in the attached chart where I looked into how BTC tends to dump out near its halving date and then recovers a few weeks later.
I did a spreadsheet a while back looking at its past post-halving dump and recovery paths and the green vertical box area is where I expect it to make a good dollar cost average buying region.
Previously after halvings it typically would make a Wyckoff low volume accumulation type of pattern. Basically the smart money gradually soaks up the available crypto which causes price to rise slowly with very little volume. The low volume makes it look like it's a fake rally but actually it's very bullish since all the crypto is getting absorbed by the strong hands.
I think the 2 point will be possibly the last best area to buy BTC since its timing is correct and it will form a bullish reversal diamond chart pattern.
I am looking for it to follow an elliot path on the Fisher momentum chart that maps out a path inside the shown fork. I plan to hold whatever I buy this summer until the end of 2021 and then sell it all.
I think stock to flow will continue to be accurate on btc and there may not be any other crypto that can keep up with it, although time will tell.
In the mean time while it's making its way to the 2 point I am bearish and actually have a very small short scalp position.
I did a spreadsheet a while back looking at its past post-halving dump and recovery paths and the green vertical box area is where I expect it to make a good dollar cost average buying region.
Previously after halvings it typically would make a Wyckoff low volume accumulation type of pattern. Basically the smart money gradually soaks up the available crypto which causes price to rise slowly with very little volume. The low volume makes it look like it's a fake rally but actually it's very bullish since all the crypto is getting absorbed by the strong hands.
I think the 2 point will be possibly the last best area to buy BTC since its timing is correct and it will form a bullish reversal diamond chart pattern.
I am looking for it to follow an elliot path on the Fisher momentum chart that maps out a path inside the shown fork. I plan to hold whatever I buy this summer until the end of 2021 and then sell it all.
I think stock to flow will continue to be accurate on btc and there may not be any other crypto that can keep up with it, although time will tell.
In the mean time while it's making its way to the 2 point I am bearish and actually have a very small short scalp position.
