Bitcoin over simplified

In the post going back to February last year, I talked about the "VALUE AREA"


This level was the start of the Wyckoff movement for me, where the distribution would start to fall into place. You will see the value area highlighted in the main post with an orange horizontal line.

Press play on this and you will see much like a magnet, price comes back and stays around this level for a considerable amount of time. Starting around mid May.

There was a key hidden level inside this range, that made it very attractive, in addition it give some clue towards the instrument now being institutionalised.

I've covered this in several streams and posts - much like this image below;

The Wyckoff distribution (click below) for the educational post;
Came with very little surprise, it was clearly exhausted, we had seen the re-accumulation phase - making it the optimal target for a 3 wave weekly around the 62k level (first long time ATH in the EW roadmap)

I am often asked about where next, for me personally. Not much has changed over this last year - the only real surprise was that we didn't get 75k-83k as a key level during the wave 5 up on the weekly. Seeing only $69,000 instead.

There are a couple of key levels in which myself and @Paul_Varcoe will be covering in our upcoming streams. But for now, it's fascinating seeing the price being pulled towards the value area range that's been sitting there this last year.

Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.