LordFarquad

Bitcoin Wyckoff Distribution/Accumulation Theory

Long
BITFINEX:BTCUSD   Bitcoin
As BTC has trended along these century old patterns/trends quite closely over the past 5 months, one can conclude that manipulation is the root cause of the 55% crash. The MM's had manipulated the price so they could accumulate as much BTC and/or ETH as possible, and according to Wyckoff's Theories of Distribution and Accumulation, this is almost over. My belief is that we are on the verge of entering Phase D of Accumulation, and if we still follow closely to the accumulation trend line, we should be seeing a move up to $39,500 followed by a pullback to $36,500, and then a run up to the region of $40,000-$43,000. This is not financial advice, this is just the analysis and thoughts from a college student.
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