Potential Wyckoff accumulation pattern after the distribution phase. Maybe we don't get the spring. But if it plays out would we expect a bitcoin below 30k briefly?
Don't forget that we can also expect Re-distribution if we don;'t manage to establish Sign of Strength (SOS) above 42-47K. If its re-distribution then who knows where we gonna fall.
pdkm1
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The distribution period was around 3 months though. And if this is the a pattern that bitcoin is following another 3 month accumulation isn’t impossible
pdkm1
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I’m going to say no.. It’s just a potential movement idea. I mean, it could be. I’m just exploring the idea that the recovery might not be as quick as we think and potentially could dip a little below the low of 30k
yezu
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... over a month later and - almost spot on ;-)
Kudos to you!
pdkm1
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@yezu, thanks yezu. Bitcoin is loving the channel its in. Hopefully we will get a few more trades out of it and catch the big one when it finally breaks out going up or down. Good luck with the trading
Performance_FX
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I'm really just checking to see who, if anyone, paid attention to wyckoff schematics after everyone was talking about the textbook distribution we saw. Nice to see this seems to be working so far
pdkm1
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We are in an era of institutional manipulation. This is the pattern that normally that the manipulation follows. Like I said, the time frame might not be right, but the sequence of testing resistance and support levels could be
CarefULPersona
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is the timeline correct for this?
pdkm1
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@CarefULPersona, turns out, yes it was correct, although there will possibly be something different happening in the e stage. However, lots of shorts open now so maybe it will keep going, lets wait and see