Bitcoin is currently mimicking a Wyckoff Accumulation pattern on a 4h chart. Over the last year, a near perfect Wyckoff Distribution pattern was experienced on a 4h BTC chart as well. Usually these patterns are found on higher timeframe charts, but in extremely volatile markets they can appear on lower timeframes as well. It's possible that Bitcoin could experience another short-term pullback into 36k demand before breaking above 41k again. Expect some more sideways price action between 41k and 43k. Overall I'm very bullish as it would appear our institutional overlords are ramping up for another great rally campaign just in time for an unprecedented period of extreme inflation.
I agree with you, the timing is impeccable, they want to fleece the retail traders for all they're worth before the dollar gets devalued by half. Fundamentals have never been more promising for BTC, and with entire countries making crypto their legal tender, it's unstoppable. I think there is too much demand for another spring/shakeout, people (including institutional traders) will buy the dip too fast. Good analysis!
UnknownUnicorn18638404
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Watching the same thing... how much of a pull back is coming is in question for me though. it might stop at 37.5 or maybe overshoot down further and part of me is wondering if it doesn't dump much from here at all since I sat and watched a pretty aggressive sell candle get bought up yesterday on the feds nonsense and any dumpy candles thereafter get bought. If it keeps up we wont be retracing much before a run at the overhead resistance again.