Without a doubt. Over and over and over again. This has happened throughout the entire Bitcoin run, going back years. Basic, proven market tenets and strategies withstand the test of time, and when someone can identify them, there's potential for bigtime profit.
If you have read my previous posts, you know that I'm tracking a Wyckoff Accumulation phase that is encapsulating a Falling Wedge pattern. Accumulation phases are used by Market Movers to force weak hands to panic sell their positions so that they can soak them up at cheaper prices. When these movers have squeezed the sponge of every last drop, then we begin the Markup phase where prices climb, and money is made.
But we do not have to speculate if Wyckoff Accumulation is a real thing. Despite being a tried and true strategy for decades in the stock market, a quick scan of past Bitcoin price action shows history repeating itself over and over. I'll show you.
Current Accumulation Pattern
Accumulation - November, 2019
Accumulation - June, 2018
Accumulation - March, 2018
And so on, and so on...
Keys to Making Money in Crypto
Strip Out the Emotion - The market doesn't care about our feelings. Find the patterns, look at the data, make decisions based on that.
Stop Trying to Get Rich Quick - Pump and Dumps are scams. Don't GAMBLE in Crypto. INVEST.
Learn the Patterns - Learn solid Technical Analysis. What are the candles telling you? What are the patterns telling you? Don't worry about what the YouTubers are telling you. Their motivations are different than yours.
Trade Like the Whales - Learn what Market Movers are thinking, and move when they move. Market Psychology is designed to make you sell when you're supposed to buy, and buy when you're supposed to sell.
Implement Risk Management - Don't invest more than you can afford to lose, and protect your positions with stop losses.
****** I'm starting out my Twitter account for Crypto. If you want "bottom line" content that doesn't spin you in technical circles or tries to sell you something, follow me if you'd be so kind, and share your thoughts. We're all learning, let's make money together .
so could possibly retest 30k and then bullish momentum ? or saying that that move already happened and ready for history to repeat itself as you've shown in the past years.. appreciate your post and i felt is was going lower and is a fake out to stop out new investors
TommySantosCrypto
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@KiJonAnderson-Brown, It depends on whether or not it breaks below the support formed by the top of the Falling Wedge (see a previous post of mine where I talk about the 2 next moves).
We've had the Spring now. We've had the Test that follows it. We've now broken above the Falling Wedge that is formed by an Accumulation pattern usually. If we close the daily candle above that, that's extremely bullish. If this Accumulation phase plays out, then we saw the bottom at 28.6K.
The ONLY concern I have is the volume we saw at the 28.6K Spring. It was REALLY high. So if Market Movers feel that it didn't shake out enough weak hands, it wouldn't surprise me if they take another stab at tanking it again to incite another panic sell.
Having said that, I want it to go up already. But if it goes down, I have reserves ready to soak up that dip.
KiJonAnderson-Brown
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@TommySantosCrypto, precisely was thinking the same thing when you said your onky concern is the volume at 28.6k strongly believe they will attempt it one more time and double if not triple their money.. i appreciate you and you replying brings peace of mind and will continue to be patient and let it play out .. i have reserves also which is why id rather see them tank it one last time ...