BITCOIN - What Does Re-Accumulation Look Like in 2021/22

Bitcoin has a unique and deceptive chart and here is an example of that.

This is imo what re-accumulation looks like in this current market cycle and it appears history may be repeating.

First of course there is a collapse, then;

• There is a somewhat chaotic but also somewhat ordered chop that continues for some considerable time.
  
  
• Chop descends.
  
  
• Chop can form descending wedge patterns that can both break up or collapse down.
  
  
• Somewhere in the mix there is a double leap upward to tag the 4H200MA to form an ABC that then descends back down into the price channel.
  
  
• And then in the previous re-accumulation; at some point price descends into what appears to be a capitulation only to reverse and break to the upside - and the re-accumulation is complete.
  
  

It is interesting that there are multiple textbook capitulation structures here and also continuous descending price, both of which in other markets would probably signal another wave down, but with BTC it was accumulation and a bounce followed.

So we have seen one instance of this in BTC history, and now it could appear that the same is happening again. There is no guarantee it will repeat, but based on the idea that it takes 2 showings for a donkey to wake up and we have only had one showing; I'm going to guess that this is another re-accumulation.

Complex stuff.

Anyhow if you want to know what will happen next from someone that finds this easy; ask any crypto hodler. They all bought the low at 29K last time around 🤔.

Anyhow probable bounce to 57-61K.

Then back to 20K.

Not advice.

Comment:

Wick through SOW in A. This is last support for a bounce really. I still think it will bounce.

Comment:

It could of course fakeout below* but if BTC drops much below then it will be a big collapse an my 20K target will be coming sooner.