After seeing some content describing the correlation between BTC's recent price activity and the Wyckoff Distribution pattern (many thanks to YouTuber "Uncomplicated"!) and seeing how perfectly they matched, I took the next logical step to project what it might look like if we transitioned directly into a Wyckoff Accumulation pattern.
This Idea presents one possibility of what that might look like. I have drawn this Idea to be intentionally pessimistic, as I am "planning for the worst & hoping for the best". Based on this work, I am preparing for the possibility that I may need to HODL my BTC down to a price point of approximately $15k ... something I would have thought impossible a few months ago, but it doesn't seem so impossible anymore. The upside of that, obviously, would be to accumulate additional crypto during this cycle.
NOTE: All price levels & timespans are guesstimated for projection purposes; if we actually do enter such a phase, it could be shallower & faster, or deeper & slower, depending on more variables than anyone can be aware of.
ALSO NOTE: I HOPE I'M WRONG ON THIS! I am long-term bullish on crypto projects in general & BTC in specific. As a career technologist, I believe deeply in the purpose & mission of crypto assets, and what they can provide in our world. I am hoping for a best case scenario where the recent plunge to $29k is the absolute lowest bottom we ever see again for BTC ... but I wouldn't bet my life on it.
For a description of Wyckoff theory, check out: school.stockcha...ts.com/doku.php?id=market_...
#NotFinacialAdvice
This Idea presents one possibility of what that might look like. I have drawn this Idea to be intentionally pessimistic, as I am "planning for the worst & hoping for the best". Based on this work, I am preparing for the possibility that I may need to HODL my BTC down to a price point of approximately $15k ... something I would have thought impossible a few months ago, but it doesn't seem so impossible anymore. The upside of that, obviously, would be to accumulate additional crypto during this cycle.
NOTE: All price levels & timespans are guesstimated for projection purposes; if we actually do enter such a phase, it could be shallower & faster, or deeper & slower, depending on more variables than anyone can be aware of.
ALSO NOTE: I HOPE I'M WRONG ON THIS! I am long-term bullish on crypto projects in general & BTC in specific. As a career technologist, I believe deeply in the purpose & mission of crypto assets, and what they can provide in our world. I am hoping for a best case scenario where the recent plunge to $29k is the absolute lowest bottom we ever see again for BTC ... but I wouldn't bet my life on it.
For a description of Wyckoff theory, check out: school.stockcha...ts.com/doku.php?id=market_...
#NotFinacialAdvice