Ever since the initial
BTCUSDT
drops early this year, people have been consistently accumulating Bitcoin. Looking at the accumulation/distribution indicator (ADL), we can see a clear bullish ADL divergence. In simpler terms, the price is trending downwards, and the ADL is trending upwards. This leads me to believe that people are/were loading their wallets.
However, the ADL seems to have topped out over the past few months. With that in mind, we can see a large red volume bar on November 20th, the largest of them all.
Is this the capitulation we have been waiting for? Have we reached the bottom?
It may still be too early to tell.
With all the recent BCH hard fork drama, there is really no technicals that could predict what will happen next.
BTCUSDT
drops early this year, people have been consistently accumulating Bitcoin. Looking at the accumulation/distribution indicator (ADL), we can see a clear bullish ADL divergence. In simpler terms, the price is trending downwards, and the ADL is trending upwards. This leads me to believe that people are/were loading their wallets. However, the ADL seems to have topped out over the past few months. With that in mind, we can see a large red volume bar on November 20th, the largest of them all.
Is this the capitulation we have been waiting for? Have we reached the bottom?
It may still be too early to tell.
With all the recent BCH hard fork drama, there is really no technicals that could predict what will happen next.
Comment:
Correction for the title: Is the Bitcoin Accumulation Phase Over?
