The market gave a very hard drop and many are confused why it dropped like that, so after viewing for hours I found Wyckoff's distribution pattern. This pattern is a research work of Sir Wyckoff and according to him, the distribution pattern is formed when the market is overbought. He also gave a hint that there will be an accumulation pattern after the distribution pattern.
*If you are saying this trillion of dollars market dropped because of Some small NEWS then you are completely wrong. It's difficult to find the truth so people just blame someone for something. The market was already at a peak and it was supposed to drop so that it can collect some strength for some real move.
After viewing the peak anyone who knows the pattern can confirm that it's a distribution pattern because that pattern always forms at the peak of UTAD and above the Buying Climax(BC). After completing UTAD Formation Market dropped step by step as the market drops after the distribution pattern and it touched 38800 price which was an unbelievable price.
The Selling Climax(SC) was at 38800 and after that we saw an automatic reaction(AR) and the market reached 40k within 3-4 hours. Now there are few more waves remaining that will build the strength to break this bearish pressure and it is not compulsory that in Accumulation formation SC should be broken to complete the Accumulation formation but still, there is a 25% chance that it will break SC to form a strong bullish formation because BTC now needs a pattern which has the capability to break all the resistance and move to new higher highs and ATH without looking down again.
Let's see how this accumulation pattern will shape in the future.
Below you can see our journey from top to bottom as I already predicted the biggest price drop of BTC *Some BTC ideas didn't go well as some were rough ideas.
Alert for biggest drop in the history of bitcoin
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Comment
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Above I wrote selling climax was at 38800, it's a typing mistake. Its at 28800
@Crypt02k21 there is a chance of drop to 20k, when it was near 60 i predicdet that if i didn't hold 42k it will drop to 20k. but for now i am expecting that tomorrow it will cross 44k as i predicted it a week ago that on 21 it will cross 44k. but i was expecting it to cross 44k from upside not from downside.
srr6000
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Hopefully this analysis works out,Thanks
aimka
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remember you said 50k on may 20th.
JaviDLG
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Very interesting post mate! Where can I learn about it? Maybe in Trading View, education section? Maybe you know another source? Very interesting, remarkable material you share here. Thanks!
Aadil1000x
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@JaviDLG, There are few books written by Sir Richard D. Wyckoff. You can buy online. Or you can search Wyckoff's distribution and Accumulation pattern online.
should have seen earlier
still holding my coins
what is the probability we revisit 20-35K level ?