Could this be the final dump before Bitcoin pumps?
Hi Guys
*Quick Disclaimer, this is not professional advice please do your own research before making any investments.
CHART OVERVIEW
The chart shows 6 Gann retracement lines and specific labels depicting certain phases of this suggested Wyckoff Accumulation Pattern, I won't go into every detail but will just discuss the end phase which we may be in right now, the bar pattern extending out from the current price is a projection of future prices and it is copied from the 29th of Jan until to the 21st of feb 2021 which was the movement out of our last accumulation phase.
ANALYSIS
We've just had a significant upthrust out of the last test of support, since then we've had a rough ride down towards the the bottom support area. The price is being pushed down, so far we have not reached the bottom of support, if this is a classic wyckoff accumulation pattern we'll see a further short sharp drop just under the 30k support with a quick turnaround, heading back above support (this is known as the "Spring").
Going out on a limb here, IMO the 30k support is such a strong support I doubt it will be broken. When everyone says it'll be broken and we're heading down to 27 or 24k that to me signals we're probably not. As i'm writing this the price is around 32k, so it may seem odd to be optimistic, however the best moments to invest tend to be in times of great fear.
On the chart we can see a bar pattern extending out of the current price, this was the actual sequence that happened two days after we reached the last dump in the last accumulation phase in January 2021; this is to show a very bullish outlook of what may happen, in a very approximate way.
CONCLUSSION
Only your future self knows exactly what's going to happen, we are in the field of spectacular speculation right now. This Wyckoff Accumulation Pattern makes the most sense to me, with my very bullish glasses on and going by this analysis we are going to see a huge reversal this week, perhaps within the next few days, then within 2 weeks we will be out of this pit stop and charging upwards; with my hybrid bear and bull glasses on I would say we are in for several more weeks or months of consilidation and with my full on bear glasses on we are heading down to 27 or 24k. I'm leaning more towards the most bullish sceneria of a turnaround not being so far away, what do you guys think, I would love to hear your thoughts?
*Quick Disclaimer, this is not professional advice please do your own research before making any investments.
CHART OVERVIEW
The chart shows 6 Gann retracement lines and specific labels depicting certain phases of this suggested Wyckoff Accumulation Pattern, I won't go into every detail but will just discuss the end phase which we may be in right now, the bar pattern extending out from the current price is a projection of future prices and it is copied from the 29th of Jan until to the 21st of feb 2021 which was the movement out of our last accumulation phase.
ANALYSIS
We've just had a significant upthrust out of the last test of support, since then we've had a rough ride down towards the the bottom support area. The price is being pushed down, so far we have not reached the bottom of support, if this is a classic wyckoff accumulation pattern we'll see a further short sharp drop just under the 30k support with a quick turnaround, heading back above support (this is known as the "Spring").
Going out on a limb here, IMO the 30k support is such a strong support I doubt it will be broken. When everyone says it'll be broken and we're heading down to 27 or 24k that to me signals we're probably not. As i'm writing this the price is around 32k, so it may seem odd to be optimistic, however the best moments to invest tend to be in times of great fear.
On the chart we can see a bar pattern extending out of the current price, this was the actual sequence that happened two days after we reached the last dump in the last accumulation phase in January 2021; this is to show a very bullish outlook of what may happen, in a very approximate way.
CONCLUSSION
Only your future self knows exactly what's going to happen, we are in the field of spectacular speculation right now. This Wyckoff Accumulation Pattern makes the most sense to me, with my very bullish glasses on and going by this analysis we are going to see a huge reversal this week, perhaps within the next few days, then within 2 weeks we will be out of this pit stop and charging upwards; with my hybrid bear and bull glasses on I would say we are in for several more weeks or months of consilidation and with my full on bear glasses on we are heading down to 27 or 24k. I'm leaning more towards the most bullish sceneria of a turnaround not being so far away, what do you guys think, I would love to hear your thoughts?