BTC - Wyckof Accumulation
Hear me out on this.
Since we started falling in 2021 - On-chain data has been showing big retail buying together with whale sell-offs.
But since a few levels - 28k downward - Bigger accumulations have been happening (still with whale selloffs in the background).
This distribution got heavily mixed with accumulation and has landed on my 2021's prediction: 16k.
Now, around 16k, whales have been starting accumulating aswell, and the Wyckoff pattern being formed for the last few months is proof of it.
BUT the second top didn't happen - why?
The price is meant to reach certain area ! And it didn't yet. Because of the heavy accumulation (Buy the dip!) price hasn't reached the levels that it was meant to, therefore the price is being dragged lower to reach it during the Spring dip. It also saved the market from accumulating even more shorts at 20k levels.
The timing though is on point and it will stick that way - Spring is ahead and it will happen - and Mid December is the time when we long Crypto for a bounce.
Since we started falling in 2021 - On-chain data has been showing big retail buying together with whale sell-offs.
But since a few levels - 28k downward - Bigger accumulations have been happening (still with whale selloffs in the background).
This distribution got heavily mixed with accumulation and has landed on my 2021's prediction: 16k.
Now, around 16k, whales have been starting accumulating aswell, and the Wyckoff pattern being formed for the last few months is proof of it.
BUT the second top didn't happen - why?
The price is meant to reach certain area ! And it didn't yet. Because of the heavy accumulation (Buy the dip!) price hasn't reached the levels that it was meant to, therefore the price is being dragged lower to reach it during the Spring dip. It also saved the market from accumulating even more shorts at 20k levels.
The timing though is on point and it will stick that way - Spring is ahead and it will happen - and Mid December is the time when we long Crypto for a bounce.
Comment:
I just noticed the image gets shifted - so in order to properly see the price on the image you need to shift the X-axis (timeline) and stretch the candles a bit.